The proposal is likely to be reviewed by Modi's Cabinet in the coming weeks
Eveready recorded a 234 per cent increase in profit before tax (PBT) to Rs 30.29 crore in the June quarter even as operating income fell by around 18 per cent
The company outperformed Exide for the fifth consecutive quarter
The bank invoked pledge on 56,83,320 shares forming 7.82 per cent of paid-up equity share capital of Eveready Industries
The company had posted a net profit of Rs 161.58 crore in the corresponding quarter a year ago
Company says it saw demand picking up in May and has managed coronavirus crisis well.
Marginal growth is expected in the lead acid battery (LAB) segment, driven by the upsurge in aftermarket demand for replacement of old and discharged batteries
Replacement demand, lower lead costs are positives for Exide and Amara Raja
In the next six months, Exide will be coming up with a lithium-ion variant of the same e-rickshaw which will be priced higher than the existing one
Solving battery-related conundrums is the focus of hundreds of companies and thousands of scientists all over the world
Amara Raja and Exide Industries' operating profit margins could fall only a bit on increase in lead prices