Apr 12, 2013 09:42 PM IST | Source: Moneycontrol.com

Eveready hikes battery prices to offset rising expenses

Eveready Industries India has increased prices across its range of pencil size batteries to counter rise in input costs and other expenses.

Eveready hikes battery prices to offset rising expenses

Moneycontrol Bureau

Eveready Industries India has increased prices across its range of pencil size batteries to counter rise in input costs and other expenses.

It has raised prices of economy pencil size batteries by Rs 5 per strip of 10 batteries, the Kolkata-based company said on Friday.

"A continuous upward trend in cost of materials and overhead expenses have adversely impacted the cost of batteries. This has left us with very little option but to pass on a part of the impact to the market," said Deepak Khaitan, vice chairman.

Eveready's realizations will go up by 5-10 percent from May, helped by this price hike and by rationalizing trade margins, he added.

Eveready is the market leader of dry cell batteries selling more than 1.2 billion units annually.

Eveready Industries shares were at Rs 18.75 in afternoon trade on Friday, up 1.6 percent on NSE.

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