Eveready Industries in limelight after hiking battery prices

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Monday, September 23, 2013: Eveready Industries India has announced a hike in the prices of the batteries. “A continuous upward trend in cost of materials and overhead expenses has adversely impacted the cost of batteries. This has left us with very little option but to pass on a part of the impact to the market. Realization will be increased between 3 per cent and 10 per cent from October 2013 by increasing the respective MRPs of economy pencil size batteries by Rs 5 per strip of 10 batteries, for all D size batteries by Rs 10 per box of 20 batteries and also by rationalizing trade margins of certain other batteries,” Business Standard quoted Deepak Khaitan, Vice Chairman, Eveready Industries.

The Foreign Investment Promotion Board (FIPB) has given a green signal to a proposal by Axis Bank to raise the limit of overseas holdings to over 49 per cent. This will bring Axis Bank in the limelight.

Apart from this, the FIPB also approved increase in foreign equity holding in Axis Bank to 62 per cent from 49 per cent but with a condition that the holding of foreign institutional investors (FII) should not go beyond 49 per cent. In addition to it, HCL Technologies will also share the limelight because FIPB has also approved a hike in foreign direct investment (FDI) limit in the company to 74 per cent from 49 per cent.

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As per the National Stock Exchange, Dena Bank and Vijaya Bank will be excluded from the futures and options (F&O) segment.

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