Exide zooms 15%, hits new all-time high on heavy volumes; here's why

According to reports, Hyundai and Kia have entered into an agreement with Exide Energy for electric vehicle (EV) battery localisation in India.

Shares of Exide Industries zoomed 15 per cent to Rs 369.95, also its record high on the BSE in Monday’s intra-day trade backed by heavy volumes on reports of Hyundai, Kia partnering with Exide Energy for electric vehicle (EV) battery localisation in India.

The stock surpassed its previous high of Rs 354 touched on February 5, 2024. The average trading volumes at the counter jumped over 10-fold today. A combined 39.37 million equity shares representing 4.6 per cent of total equity of Exide changed hands on the NSE and BSE.

South Korean auto majors Hyundai Motor Company and Kia Corporation on Monday