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Eveready Industries, the market leader in dry cell batteries, has decided to hike battery prices by 5 per cent in the “popular” or mass range. Following this, the price of each battery is set to rise by Re 0.50 (50 paise).
The popular or mass range of batteries accounts for 60 per cent of total battery volumes (sales).
“Post implementing the price hike on the premium range of batteries and market demand remaining stable, the company is increasing prices of the remaining popular range of batteries. Post this price increase, the company would have passed on all adverse cost pressure due to the recent currency depreciation,” Amritanshu Khaitan, Managing Director, Eveready, said in a statement.
Eveready, which sells close to 1.2 billion units (dry cell batteries) annually, also markets a variety of other products such as LEDs, CFLs, lamps, and other lighting products, rechargeable lanterns and devices, and packet tea.
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