Exide Industries, Amara Raja Energy gain up to 5% in trade; here's why

Exide Industries and Amara Raja Energy & Mobility shares jumped up to 5.1 per cent in trade on March 26, 2025, on BSE. The stocks rallied after the Indian government on Tuesday said there would be no import duties on select goods used to manufacture electric vehicle (EV) batteries amid broader tariff cuts keeping in mind the reciprocal tariff imposition statement by US President Donald Trump set to take effect from April 2.

 

Around 11:00 AM, Exide Industries share price was up 1.28 per cent at ₹364.8 per share and Amara Raja Energy & Mobility share price was up 1.76 per cent at ₹1,073.1 per share on BSE. In comparison, the BSE Sensex was down 0.11 per cent at 77,935.07. The market capitalisation of the company stood at ₹19,640.45 crore. The 52-week high of the stock was at ₹1,774.9 per share and the 52-week low was at ₹756.3 per share.

 

The government decided to remove import duty on EV batteries and mobile phones to help local producers withstand the potential impact of reciprocal US tariffs.

 

"We aim to boost domestic production and enhance export competitiveness by reducing duties on raw materials," Indian finance minister Nirmala Sitharaman said ahead of a vote to pass Finance Bill 2025 in parliament. 

 

Around 35 items used to manufacture EV batteries and 28 items used in mobile phone manufacturing will be exempted from import duty, she added. 

 

Currently, to reduce the impact of 'reciprocal tariff' imposition by the US, India is engaged in talks to resolve tariff issues and come up with a bilateral trade pact.

 

Reuters reported earlier on Tuesday that New Delhi was open to cutting tariffs on more than half of US imports worth $23 billion in the first phase of a trade deal that the two nations are negotiating, citing two government sources.

 

Last week, an Indian parliamentary committee recommended that the government cut tariffs on the import of raw materials to support local manufacturers.