Shares of Exide Industries Ltd surged in early trade today after the automotive battery manufacturer said it inked an agreement to buy a 26 percent equity stake in Clean Max Arcadia, a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power. Exide Industries has agreed to invest Rs. 5,34,59,929 or Rs 5.34 crore in Clean Max Arcadia.