Exide Industries rises on investing Rs 25 crore in Exide Leclanche Energy
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Exide Industries is currently trading at Rs. 156.60, up by 0.70 points or 0.45% from its previous closing of Rs. 155.90 on the BSE.
The scrip opened at Rs. 155.80 and has touched a high and low of Rs. 157.20 and Rs. 154.55 respectively. So far 111166 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 185.50 on 10-Nov-2021 and a 52 week low of Rs. 130.30 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 158.25 and Rs. 153.20 respectively. The current market cap of the company is Rs. 13323.75 crore.
The promoters holding in the company stood at 45.99%, while Institutions and Non-Institutions held 28.23% and 25.78% respectively.
Exide Industries has invested Rs 25 crore by way of subscription to the Compulsory Convertible Preference Shares (CCPS) of its subsidiary -- Exide Leclanche Energy (hereinafter referred as JVC). With this investment, Exide Industries will hold 100% CCPS of the JVC. The equity shareholding with voting rights of Exide Industries in JVC remains unchanged at 84.90%. The investment is made to meet various funding requirements of JVC. However, there will be no change in the equity holding of Exide Industries in JVC.
Exide Industries was incorporated in January 1947 as Associated Battery Makers to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company.
