Shares of this small-cap battery manufacturing company logged a fresh 52-week high today!

The rally in share price comes after the company announced the appointment of a new Chief Financial Officer (CFO). 

The shares of Eveready Industries Ltd are buzzing on the bourses today. As of 12.06 pm, the shares of the company are trading higher by 4.18%. Owing to this, the shares of Eveready Industries are one of the top gainers on BSE from Group A. Meanwhile, the frontline index S&P BSE Sensex is up by 0.10%. 

This surge has come after an announcement made by the company yesterday. As per the exchange filing, the company’s Board has approved the appointment of Bibek Agarwala as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company with effect from 14th February 2023. 

He shall replace Indranil Roy Chowdhury and Bibhu Ranjan Saha, who had earlier been designated as Joint Chief Financial Officers of the Company. Indranil Roy Chowdhury and Bibhu Ranjan Saha continue to remain in the employment by the Company, as Senior Management Personnel, effective the said date. 

Eveready Industries (India) Ltd is a well-known name in the dry cell batteries segment. Besides dry cell batteries, the company also manufactures flashlights (torches), mosquito repellant and packet tea. The company’s manufacturing facilities are spread across 6 locations, namely Matia, Lucknow, Noida, Haridwar, Maddur and Kolkata. The company has a Research and Development (R&D) facility which is approved by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India. 

In FY22, the company delivered an ROE and ROCE of 17.4% and 14.7%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 2,791.19 crore. 

Today, the scrip opened at Rs 368.60 and has touched a high and low of Rs 393 and Rs 365.90, respectively. So far 28,353 shares have been traded on the bourses. With today’s intra-day high, the shares of Eveready Industries registered a fresh 52-week high. Their 52-week low stands at Rs 255.45.