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Exide Industries Hits 52-Week High as Delhi High Court Resolves Trademark Dispute in Favor of 'Chloride' Mark

20 Nov 2023 , 02:45 PM

Exide Industries Limited witness a nearly 1% surge in shares, attaining a new 52-week high of Rs 283 during early trade on November 20. A prolonged trademark dispute finds resolution as the Delhi High Court issues a formal decree documenting the terms of a settlement agreement. The involved parties include Exide Industries Ltd, Vertiv Company Group Ltd UK, and Vertiv Energy Pvt Ltd India.

Acknowledging Exide's rights, Vertiv concedes that the Chloride trademark and its variants in India rightfully belong to Exide Industries Ltd. The settlement holds particular significance for Exide, reinforcing its rights to the Chloride mark in India, especially for electronic products such as uninterruptible power supply (UPS).

Beyond legal victories, Exide Industries reports a robust financial performance in Q2, with a 12% YoY increase in consolidated net profit reaching Rs 270.32 crore and a 13.8% growth in revenue from operations, totaling Rs 4,371.52 crore. The positive trajectory in both legal matters and financial performance contributes to an optimistic sentiment in the market, positioning Exide Industries as a noteworthy player in the industry.

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