Shares in Exide Industries rose 2.5% after the company raised prices for automotive batteries. A company spokesman confirmed earlier media reports that the company has raised automotive battery prices by 2.5%, with the hike effective June 1.
Analyst says price hike was largely beneficial for Exide as it sources 50% of its lead supplies from captive smelters which give it 10%-12% pricing advantage.
This brings savings from general cost pass through to the customers, he said.
