Exide Industries share price was trading higher on August 21 after the company made an additional investment in its wholly owned subsidiary.
At 12:16 hrs Exide Industries was quoting at Rs 504.65, up Rs 7.40, or 1.49 percent, on the BSE.
".... has invested Rs 74,99,99,988 by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions, on rights basis," company said in its press release.
With this investment, the total investment made by the company in subsidiary stands to Rs 2,652.24 crore and there is no change in the shareholding percentage of the company in subsidiary.
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Exide Energy Solutions is engaged in the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications.
The company had reported 15.5 percent jump in its Q1FY25 net profit at Rs 279.57 crore versus Rs 241.94 crore in June 2023.
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