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The purpose of entering into agreement to procure solar energy for Cholride Metals factory at Supa Partner Industrial Park, Ahmednagar, Maharashtra from the solar captive power plant to be set up by the Zillica, subsidiary of Cleantech at Latur, in the state of Maharashtra with a gross capacity of approximately 4 megawatt peak (MWp).Further, the company has also entered into share subscription agreement with Zillica Renewables to subscribe equity shares comprising upto 26.33% of the issued and paid up share capital of Zillica aggregating upto Rs. 1.76 crore Exide Industries is primarily engaged in the manufacturing of storage batteries and allied products in India.The companys net profit jumped 9.6% to Rs 222.31 crore on 5.6% increase in net sales to Rs 4,245.48 crore in Q1 FY24 over Q1 FY23.The scrip rose 0.24% to Rs 267.20 on the BSE.

Exide Inds subsidiary inks pact with Cleantech Solar & Zillica Renewables

Exide Industries said that there is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.The company stated, 3,22,58,065 equity shares of Rs 10 each were acquired at a premium of Rs 21 each aggregating to Rs 100,00,00,015.”The company has made further investment by subscribing to equity shares offered by EESL on a rights basis to meet various funding requirements of EESL, it added.Exide Energy Solutions is into manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch, prismatic, (the battery cells), as well as manufacturing, assembling, selling battery modules, battery packs and other related activities.As of the date of the investment, EESL reported a paid-up equity share capital of Rs 374.40 crore, with a net worth of Rs 655.20 crore as on 31 March 2023. It reported a loss of Rs 59.81 crore for the year ended 31 March 2023.Exide Industries is primarily engaged in the manufacturing of storage batteries and allied products in India.The companys consolidated net profit rose 9.6% to Rs 222.31 crore on 5.6% increase in net sales to Rs 4,245.48 crore in Q1 FY24 over Q1 FY23.Shares of Exide Industries were down 0.29% to Rs 273.25 on the BSE.

Exide Inds invests Rs 100 cr in subsidiary via rights issue

Prabhudas Lilladher recommended accumulate rating on Exide Industries with a target price of Rs 295 in its research report dated September 07, 2023.

Accumulate Exide Industries; target of Rs 295: Prabhudas Lilladher

In a regulatory filing, Exide Industries said it made the investment by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL) on a rights basis.

Exide Industries invests over Rs 100 crore in advanced chemistry battery cells making arm

Exide Industries has invested Rs 100 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions (EESL), on rights basis. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition. 

Exide Industries invests Rs 100 cr in Exide Energy Solutions 

Sharekhan is bullish on Exide Industries has recommended buy rating on the stock with a target price of Rs 301 in its research report dated August 02, 2023.

Buy Exide Industries; target of Rs 301: Sharekhan

Motilal Oswal is bullish on Exide recommended buy rating on the stock with a target price of Rs 290 in its research report dated July 28, 2023.

Buy Exide; target of Rs 290 : Motilal Oswal

Exide Ind Consolidated June 2023 Net Sales at Rs 4,245.48 crore, up 5.56% Y-o-Y

Exide Ind Standalone June 2023 Net Sales at Rs 4,072.61 crore, up 4.44% Y-o-Y

Move above 18,800 on the Nifty50 will open targets for 19,111, which is the fifth wave target as per Elliott wave.

Nifty can see profit booking in F&amp;O expiry week before making positive attempts, says Ashish Kyal

Exide Industries Ltd. engages in the manufacture of storage batteries. It operates through the Storage Batteries and Allied Products segment. The company was founded in 1946 and is headquartered in Kolkata, India.

Watchers	480
52-Wk Low	152.75
52-Wk High	279.75

Market Cap	221.51B
Volume (M)	1.76M
52-Wk High	279.75
52-Wk Low	152.75

EXIDEIND.NSE Exide Industries Ltd.

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