India's Exide Industries rises on investment in unit
** Shares of Exide Industries EXID.NS rise as much as 3.7% to 441.4 rupees, last up 3.5%
** Battery maker invests 1 bln rupees ($11.8 mln) in unit Exide Energy Solutions, which makes lithium-ion battery cells for electric vehicles
** The investment, on a rights basis, will be used to fund a greenfield plant in Bengaluru city
** Avg rating of 17 analysts covering the stock is "hold" and median PT is 470 rupees, ~6.8% higher than current price - LSEG data
** EXID extends YTD gains to 38.7%
($1 = 84.4730 Indian rupees)
Reporting by Anuran Sadhu in Bengaluru
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