Exide Industries shares rose more than 8 percent on Thursday after lead prices fell to their lowest level of 2026, a development seen as positive for battery manufacturers due to lower input costs.
The stock climbed as much as 8.29 percent to an intraday high of Rs 422.70 on the NSE. It later pared some gains amid profit booking and settled at Rs 419.45, up 7.45 percent.
Exide shares have extended gains for a third straight session and are up about 9 percent over the last three trading days. The stock has rallied around 40 percent in the past three months.
The sharp rise is seen amid decline in lead prices, which are down 11 percent from their January 2026 high and nearly 9 percent over the past month. Lead prices have continued their downward trend and are now at their lowest level since January 15, 2026.
Lower lead prices are expected to support Exide's margins as lead is the key raw material used in lead-acid batteries. It accounts for around 65-70 percent of the company's raw material costs and 50-55 percent of its production costs.
Shares of peer Amara Raja Energy & Mobility also gained as much as 2.5 percent during the session.
For Amara Raja, lead accounts for around 65-70 percent of raw material costs and 40-45 percent of production costs.
A 10 percent decline in lead prices is estimated to reduce the manufacturing cost of a lead-acid battery by around 6-7 percent.
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