New Delhi, April 9 -- Shares of Exide Industries hit back-to-back 52-week high after the batter maker signed a deal with Hyundai Motors Company and Kia Corporation for the production of electric vehicles (EV) batteries in India. On April 8, the two South Korean auto giants announced a partnership with Exide Energy Solutions Ltd - a subsidiary of Exide Industries for EV battery localisation in India.

The collaboration signals a significant development in the country's electric vehicle sector. This partnership not only boosts Exide Industries' market presence but also underscores its pivotal role in catering to the burgeoning demand for electric vehicle components in India.

Hyundai Motor Company and Kia Corporation have inked a Memorandum...