A total of 22.28 lakh shares changed hands in a bulk deal executed in the counter at 9:12 IST at Rs 117.70 per share.
Meanwhile, the BSE Sensex was up 21.44 points, or 0.12%, to 17,540.70
On BSE, 25.63 lakh shares were traded in the counter as against an average daily volume of 3.49 lakh shares in the past two weeks.
The stock had gained as much as 2.40% at the day's high of Rs 119.40. The stock hit a low of Rs 116.65 so far during the day. The stock had hit a 52-week high of Rs 128.10 on 12 January 2010 and a 52-week low of Rs 38.05 on 23 March 2009.
Shares allotted in the recent qualified institutional placement (QIP) of Exide Industries have been admitted to trading from today, 19 March 2010. On 9 March 2010, Exide Industries raised about Rs 540 crore from selling 5 crore equity shares under the QIP route. The company sold the shares for Rs 107.90 each. The proceeds from the share sale are likely to be used for research and development initiatives and adoption of fresh technologies to cope with future challenges.
Exide Industries is engaged in manufacturing and selling storage batteries. It manufactures lead acid storage batteries used for starting piston engines and other lead acid accumulators.
The company's net profit surged 132.40% to Rs 130.48 crore on 15.9% rise in net sales to Rs 912.57 crore in Q3 December 2009 over Q3 December 2008.