Eveready Industries India rose 2.69% to Rs 355 at 12:36 IST on BSE after the company announced hike in the prices of its premium range of batteries.
The announcement was made during market hours today, 5 August 2015.
Meanwhile, the S&P BSE Sensex was up 229.19 points or 0.82% at 28,301.12.
On BSE, so far 71,000 shares were traded in the counter as against average daily volume of 78,877 shares in the past one quarter.
The stock hit a high of Rs 357.60 and a low of Rs341 so far during the day. The stock had hit a record high of Rs 374.90 on 17 July 2015. The stock had hit a 52-week low of Rs 82.50 on 4 August 2014.
The stock had outperformed the market over the past one month till 4 August 2015, rising 4.93% compared with Sensex's 0.07% decline. The scrip had also outperformed the market in past one quarter, advancing 18.63% as against Sensex's 2.11% gain.
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The small-cap company has equity capital of Rs 36.34 crore. Face value per share is Rs 5.
Eveready Industries India's Managing Director Amritanshu Khaitan said that while commodity prices continue to remain somewhat soft, currency exchange and normal inflation in overhead expenses had some impact on margins. The company is thus setting off such impact by increasing prices of its premium range of batteries, Khaitan said. The premium range constitutes about 40% of total battery volumes, and MRPs of the various types will be increased from Rs 0.50 to Re 1 per piece, Khaitan added.
Eveready Industries India's net profit rose 49.9% to Rs 15.89 crore on 7.6% growth in net sales to Rs 347.93 crore in Q1 June 2015 over Q1 June 2014.
Eveready is the market leader of dry cell batteries selling more than 1.2 billion units annually. Apart from dry cell batteries, Eveready is also the market leader in flashlights selling in excess of 25 million units per year. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.
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