Eveready Inds all charged up

Eveready Industries has been in the news since last week. First the news that it was planning to hive off its tea business to Mcleod Russel. The company later issued a clarification stating that it was upscaling and no such deal was truck.

The next day another news surfaced - company is in the process of launching electrical and non-electrical appliances as ceiling fans, choppers, coffee maker, irons, food processors, water heaters, induction cookers, juicer mixer grinders, Juicers, Kettles etc.

Though the company has not mentioned a time frame to do this, this is a big leap ahead from manufacture of lightings, flash lights, batteries and mobile power.

It sells tea with brand names of Premium Gold, Tez Premium, Tez Red and Jaago.

The market is happy that the company is expanding its product line and the stock went up to an intra day high at Rs.249. Its 52-week high and stands at Rs.374.90 and Rs.192.30.