Exide Rides a Four-Day Rally After Industrial Battery Tie-Up

has quietly put together a strong run this week, closing today at ₹435.85, up a sharp 4.12% (+₹17.25) from the previous close of ₹418.60. This extends a rally that's been building since mid-September, coinciding with a fresh corporate development that seems to be reigniting investor interest. The rally lines up with a business announcement. On September 15, Exide signed a long-term industrial battery cooperation agreement with ExCom for the European Economic Area, a deal that appears to have kicked off the stock's move, with gains building for four straight sessions since. The four-day trend tells the story: the stock moved from ₹409.20 (Sept 15) → ₹415.50 (+1.54%, Sept 16) → ₹418.60 (+0.75%, Sept 17) → ₹435.85 (+4.12%, Sept 18), a steady build-up rather than a single-day spike, suggesting sustained buying rather than short-term speculation. It's still well below its 52-week high. At ₹435.85, the stock remains meaningfully off its 52-week high of ₹496.40, though comfortably clear of its 52-week low of ₹287, so there's room to run if the momentum holds. Valuation has room to expand further. The stock trades at a P/E of about 29.65x and P/B of 2.42x, not cheap, but not stretched either for a company that's actively expanding its international battery business. Recent months had been rough before this. The stock was down nearly 15% over the past month as of early September, so this week's bounce is a meaningful reversal from what had been a weak stretch.