Eveready hikes battery prices by 5-10 percent

Eveready hikes battery prices by 5-10 percent

Eveready Industries India has hiked the prices of its range of dry cell batteries by 5 to 10 percent, a senior company official said here. The prices were increased from Friday.

"Over the past 4-5 months there has been a continuous upward climb in the prices of zinc, a key raw material for making batteries, which has adversely impacted the manufacturing cost of carbon zinc batteries. The product segment also had to take on a hike in excise duty from 8 percent to 10 percent in the 2010 Union Budget.

"These have left us with very little option but to pass on a part of the increase in costs to the market. We are increasing the MRP of all types of batteries by 5 percent to 10 percent with immediate effect," Vice Chairman and Managing Director Deepak Khaitan said in a statement.

Eveready is country's largest producer of carbon zinc batteries selling about 1.2 billion batteries annually.

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