Eveready Industries up on battery price hike - The New Indian Express

Eveready Industries up on battery price hike

Published: 20th March 2014 01:19 PM

Last Updated: 20th March 2014 01:19 PM

Eveready Industries (India)sharesrose on Thursday after the company announced a hike in the prices of its batteries.

According to Deepak Khaitan, vice chairman of Eveready, ''A long cycle of continues upward in cost of materials and overhead expenses had adversely impacted the cost of batteries. This necessitates another round of price increase to protect margins. Realization will go up by 3% to 8% through increase of MRPs from April 2014 of pencil size batteries by Rs 5 to Rs 10 a strip of 10 batteries and for all D size batteries by Rs 10 a box of 20 batteries.''

Shares ofthe companyare trading at Rs 44.25, up Rs 0.4, or 0.91% at the Bombay Stock Exchange (BSE) on Thursday at 12:40 p.m.The scrip has touched an intra-day high of Rs 45.50 and low of Rs 43.70. The total volume of shares traded at the BSE is 135,283.In the earlier session, the shares gained 2.69%, or Rs 1.15, at Rs 43.85.Currently, the stock is trading down 4.53% from its 52-week high of Rs 46.35 and above 214.95% over the 52-week low of Rs 14.05.

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