Franklin Templeton Mutual Fund made a new entry into Exide Industries with 1,44,88,431 shares, representing a 1.70% stake in the company. The position is valued at ₹629.47 crore at a share price of ₹435.20.
A leading manufacturer of storage batteries and allied products in India, Exide Industries operates across automotive, industrial, and consumer segments. The company produces lead-acid batteries, inverters, and renewable energy solutions for diverse applications ranging from vehicles to backup power systems. Its vertically integrated operations, established distribution network, and focus on innovation position it as a prominent player in India's battery manufacturing sector.
Indian arm of Franklin Templeton Investments, a global AMC with over USD 1.5 trillion in assets worldwide. Manages over Rs 1.2 lakh crore in India. Navigated a significant setback when six debt schemes were wound up in April 2020 due to illiquid credit exposure, with full investor capital recovered by 2022. Equity franchise led by CIO Anand Radhakrishnan has maintained consistent performance through the volatility.
