Exide Industries-led arm to acquire 80 acres land for Li-ion battery facility; Stock rises

28 Jul 2022 , 10:28 AM

Exide Energy Solutions Limited (EESL), wholly owned subsidiary of Exide Industries Limited has executed the lease cum sale agreement on July 26, 2022 for procuring land parcel admeasuring 80 acres at Hitech, Defence & Aerospace Park, Phase-2 in Bengaluru with KIADB (Karnataka Industrial Areas Development Board).

As per the filing, the land will be used to set up state-of-the-art green field multi-gigawatt Li-ion battery cell manufacturing facility for the new-age electric mobility and stationary application businesses in India.

At around 10:29 AM, Exide Industries was trading at Rs156.50 per share up by Rs0.4 or 0.26% from its previous closing of Rs156.10 per share on the BSE.

The scrip opened at Rs157.50 and has touched a high and low of Rs158 and Rs155 respectively so far today.The current market cap of the company is Rs13,268.50 crore.