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Eveready Ind: Cost pressure?

Analysts expect Eveready Industries to get more attention following an update issued by the company on a price revision. Prices of zinc, which is a major raw material for the battery manufacturer, have been moving upwards for some months, it has been pointed out. Though the recent price revision by the company may moderate the input cost for the company, the skyrocketing prices of zinc at LME could add pressure on it, say analysts. Zinc hit a new high of $4,580 a tonne in earlier trade on Friday.

The Rs 5-face value Eveready stock fell 3 per cent on Friday to close at Rs 70.95. Volumes were decent - 1.84 lakh shares. The 52-week high for the counter is Rs 140.

Nilanjan Dey

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