Eveready Industries gains after announcement on launch of a range of appliances

Eveready Industries India rose 3% to Rs 238.50 at 13:51 IST on BSE after the company said that it is in the process of launching a range of electrical/non-electrical appliances in various parts of the country.

The announcement was made after market hours on Friday, 4 March 2016.

Meanwhile, the S&P BSE Sensex was down 96.36 points or 0.39% at 24,550.12

On BSE, so far 20,294 shares were traded in the counter as against average daily volume of shares in the past two weeks. The stock hit a high of Rs 249 and a low of Rs 231.55 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 192.30 on 12 February 2016. The stock had underperformed the market over the past one month till 4 March 2016, rising 0.61% compared with Sensex's 1.27% gain. The scrip also underperformed the market in past one quarter, sliding 18.88% as against Sensex's 3.87% fall.

The small-cap company has an equity capital of Rs 36.34 crore. Face value per share is Rs 5.

Eveready Industries India said that the company is in the process of launching in various parts of the country, a range of electrical/non-electrical appliances being ceiling fans, choppers, coffee maker espresso, dry irons, food processors, immersion water heaters, induction cookers, juicer mixer grinders, juicers, kettles, mixer grinders, multi grills, oven toasters grillers, pop-up toasters, rice cookers, roti makers, sandwich makers, steam irons and water heaters in the product category of consumer goods. These products will cater to the domestic market, Eveready Industries India said.

Eveready Industries India's net profit rose 10.6% to Rs 16.95 crore on 0.4% decline in net sales to Rs 323.79 crore in Q3 December 2015 over Q3 December 2014.

Eveready is the market leader of dry cell batteries. Apart from dry cell batteries, Eveready is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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