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The shares of Indo-National Ltd and Eveready Industries were in demand at the bourses on Thursday on expectation of strong March quarter (Q4FY21) results. Indo-National shares were locked in 20 per cent upper circuit at Rs 1,049.40, also its 52-week high on the BSE. A combined 106,000 shares have changed hands, so far, and there were pending buy orders for around 20,000 shares on the NSE and BSE.
Indo-National is a leading consumer goods company with a portfolio comprising dry-cell batteries, flashlights, LED lights, Mosquito bats, DORCO Blades and electrical accessories.
Eveready Industries hit an over three-year high (highest level since April 2018) of Rs 338.70 after rising 7 per cent on the BSE in intra-day trade today. The stock hit an all-time high of Rs 465 on January 22, 2018.
Eveready is the country’s market leader in batteries and flashlights. The company is selling more than 1.2 billion batteries and nearly 25 million flashlights. Apart from these, Eveready offers a basket of other products like LED, LED-based Luminaires, GLS lamps & other lighting products, and appliances. Eveready’s core categories of batteries and flashlights likely to witness steady demand, given the sharp decrease in dumped imports from China and the disruptions caused to the unorganized market in the midst of the pandemic.
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