Eveready Industries India, a leading producer of batteries, has increased the price of its range of pencil size batteries in the country to cope with the increasing prices of inputs. The company has recorded increasing prices of inputs for the batteries and has decided to transfer some of the increased costs to the customers in the country.

The company said on Friday increased prices of economy pencil size batteries by Rs. 5 per strip of 10 batteries. The company, which is the market leader in dry cell batteries with volumes of about 1.2 billion units per year, believes that its realizations will increase 5-10 per cent from May following the rollout of a price hike this month in the country.

Deepak Khaitan, vice chairman of the company said, "A continuous upward trend in cost of materials and overhead expenses have 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."

The shares of the company increased 1.6 per cent and were trading at Rs. 18.75 at the National Stock Exchange (NSE) this afternoon at the time of reporting.