Exide Industries rallies 7% on huge volumes, nears 52-week high; here's why

Analysts maintains a positive outlook on Exide, given steady demand prospects at its base (lead acid) business, and nearing commercialization of 1st phase of lithium-ion capacity (6 GWh).

Exide Industries share price movement

 

Shares of Exide Industries rallied 7 per cent to ₹415.85 on the BSE in Thursday’s intra-day trade amid heavy volume owing to a positive business outlook. The stock was trading close to its 52-week high of ₹430.85 hit on September 10, 2025. It bounced back 45 per cent from its 52-week low of ₹286.35 touched on March 30, 2026.

 

At 10:16 AM, Exide Industries quoted 6 per cent higher at ₹413.80, as compared to 0.33 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped three-fold with a combined 8.83 million equity shares changing hands on the NSE and BSE.

 

 

Exide Industries overview, outlook

 

Exide Industries is a part of the duopolistic organised Indian lead acid battery market with presence across automotive & industrial applications. Its portfolio spans conventional flooded batteries as well as advanced Valve-Regulated Lead-Acid (VRLA) batteries, catering to a wide spectrum of applications. It also has dual presence in Li-On battery space through assembly operations (1.5 GWh, Nexcharge) & Li-On Cell manufacturing venture (12 GWh, Exide Energy Sols).

 

More than 90 per cent of the business is currently growing at double-digit rates, with strength visible across automotive original equipment manufacturers (OEMs), replacement demand, solar, home UPS, railways, industrial UPS, and motive power applications. Even before lithium-ion contributes meaningfully, the management believes the legacy business can sustain high single-digit to low double-digit growth, supporting steady cash generation and earnings growth.

 

Exide Industries in its FY26 annual report said the automotive replacement business is expected to remain a key growth driver, while OEM demand is likely to benefit from improving vehicle production and the rising need for advanced battery solutions. In the industrial portfolio, opportunities continue across railways, traction, power and projects, data centres and solar solutions, while the home power business is expected to deliver steady performance. The submarine business also remains a specialised growth opportunity with healthy order visibility, the company said. 

 

ICICI Securities view on Exide Industries

 

Exide Industries continues to make meaningful progress in its transition to next–generation energy solutions with its Greenfield lithium-ion cell manufacturing facility in Bengaluru. With nearly ₹4,800 crore already invested and commercial sampling beginning, the lithium-ion project is moving from the investment phase to near term commissioning. 

 

The company is entering the market at a time when India increasingly seeks supply-chain localization, while automotive OEMs, telecom operators, and energy storage customers look for domestic alternatives to imported Chinese cells. Notably, in the recent past, it entered into a MoU with Hyundai Motors & Kia for strategic co-operation in India's EV market. 

 

Since the initial commercial operations timeline and margin profile is uncertain for this venture at this point in time, we have continued to value this business on CWIP basis & continue to report just standalone numbers, analysts at ICICI Securities said. 

 

The brokerage firm maintains a positive outlook on Exide, given steady demand prospects at its base (lead acid) business, and nearing commercialization of 1st phase of lithium-ion capacity (6 GWh), Hence, analysts maintain BUY rating on the stock and value Exide Industries at SOTP-based target price of ₹480 (₹325 for base business at 18x PE on FY28E, ₹95 for investments & stake in other subsidiary & ₹60 as 1x Invested Capital-Li-On Cell Plant).    Check Top Gainers Today | Top Losers Today  ================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.