Eveready Inds up almost 3%

Eveready Industries which had touched a new 52-week low at Rs.14.05, the stock is up today almost 3% at Rs.20.60. Volumes are good at 1.35 lakh shares in the morning trades. Market cap stands at Rs.149 crore.

The stock is up in the green today, news that the company has hiked the price of its batteries.  The company has stated in a Press Release that a continuous upward trend in cost of materials and overhead expenses has adversely impacted the cost of batteries. This left the company with very little option but to pass on a part of the impact to the market. This price hike will raise realizations between 3% and 10% from October 2013 by increasing the respective MRPs of economy pencil size batteries by Rs 5 per strip of 10 batteries, for all D size batteries by Rs 10 per box of 20 batteries and also by rationalizing trade margins of certain other batteries.