Exide Industries gains on investing Rs 340 crore in Exide Energy Solutions
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Exide Industries is currently trading at Rs. 259.15, up by 2.45 points or 0.95% from its previous closing of Rs. 256.70 on the BSE.
The scrip opened at Rs. 257.10 and has touched a high and low of Rs. 260.80 and Rs. 257.10 respectively. So far 8974 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 280.00 on 12-Sep-2023 and a 52 week low of Rs. 152.80 on 12-Oct-2022.
Last one week high and low of the scrip stood at Rs. 262.65 and Rs. 255.15 respectively. The current market cap of the company is Rs. 21819.50 crore.
The promoters holding in the company stood at 45.99%, while Institutions and Non-Institutions held 32.64% and 21.37% respectively.
Exide Industries (EIL) has invested Rs 340 crore by the way of subscription in the equity share capital of Exide Energy Solutions (EESL), a wholly owned subsidiary on right basis. EESL is in the process of setting up a plant for manufacturing & selling lithium-ion battery cells, modules and pack business. The company has made further investment by subscribing to equity shares offered by EESL on a rights basis to fund its green field project and meet various funding requirements. With the current investment, EIL shareholding in EESL remains unchanged at 100%.
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.
