Exide Industries to split stock to Re 1

New Delhi, Jun 16 (UNI) Exide Industries Ltd has decided to split the par value of its share from Rs 10 to Re one each with a view to improving the floating stock in the bourses.

The stock split has been recommended by the Board of Directors of the company at its meeting today.

The decision, however, will have to be approved by the members of the company AGM on July 21, 2006.

Exide Industries is the largest power storage solutions company in South and South East Asia. It manufactures a widest range of storage batteries from 2.5 Ah to 20,600 Ah capacity to cover the broadest spectrum of applications.

The company enjoys a market share of 33 per cent in overall domestic auto battery market and 90 per cent market share in automotive OE (original equipment) segment.

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