{"id":267177,"date":"2026-09-24T12:05:43","date_gmt":"2026-09-24T06:35:43","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=267177"},"modified":"2026-09-24T12:05:43","modified_gmt":"2026-09-24T06:35:43","slug":"buy-sell-or-hold-eveready-indo-national-dry-cells-stocks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/","title":{"rendered":"Buy, Sell Or Hold: Eveready Industries India, Indo-National \u2014 Analyst Forecast"},"content":{"rendered":"<div style=\"background:#EAF3FF;border-radius:8px;padding:16px 20px;margin:18px 0;\">\n<p style=\"margin:0 0 8px;color:#1F4E79;\"><strong>Sector Snapshot (24 September 2026)<\/strong><\/p>\n<table style=\"width:100%;border-collapse:collapse;font-size:14px;\">\n<tr style=\"background:#D6E9FF;\">\n<th style=\"padding:6px 8px;text-align:left;\">Stock<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">LTP (Rs)<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">52W High<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">52W Low<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">P\/E vs Industry<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">ROE<\/th>\n<th style=\"padding:6px 8px;text-align:left;\">Our View<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:6px 8px;\"><a href=\"https:\/\/univest.in\/stocks\/eveready\/eveready-industries-india-ltd-share-price-today\">Eveready Industries India<\/a><\/td>\n<td style=\"padding:6px 8px;\">326.70<\/td>\n<td style=\"padding:6px 8px;\">423.55<\/td>\n<td style=\"padding:6px 8px;\">259.65<\/td>\n<td style=\"padding:6px 8px;\">13.40 \/ 15.06<\/td>\n<td style=\"padding:6px 8px;\">23.50%<\/td>\n<td style=\"padding:6px 8px;\">Buy on Dips<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:6px 8px;\"><a href=\"https:\/\/univest.in\/stocks\/nippobatry\/indo-national-ltd-share-price-today\">Indo-National<\/a><\/td>\n<td style=\"padding:6px 8px;\">324.05<\/td>\n<td style=\"padding:6px 8px;\">480.60<\/td>\n<td style=\"padding:6px 8px;\">257.00<\/td>\n<td style=\"padding:6px 8px;\">N\/A (loss-making)<\/td>\n<td style=\"padding:6px 8px;\">-8.71%<\/td>\n<td style=\"padding:6px 8px;\">Avoid \/ High Risk<\/td>\n<\/tr>\n<\/table>\n<p style=\"margin:8px 0 0;font-size:12px;color:#5A5A5A;\">India has only two genuine listed dry cell battery makers, which is why this list covers two names instead of five.<\/p>\n<\/p><\/div>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Eveready Industries India is the clear pick between these two dry cells stocks, trading below the industry average valuation with a strong return on equity of 23.50%. Indo-National, maker of the Nippo brand, is currently loss-making with a negative return on equity, which puts it in high-risk territory despite a similar share price level.<\/p>\n<\/div>\n<p>India&#8217;s dry cell battery market is a small, mature, two-player listed space dominated by Eveready and Nippo brands, both exposed to lithium-ion substitution trends over the long run even as zinc-carbon and alkaline cells remain the mass-market standard. This piece checks both listed names on valuation and profitability.<\/p>\n<p><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Eveready_Industries_India_Buy_on_Dips\" title=\"Eveready Industries India: Buy on Dips\">Eveready Industries India: Buy on Dips<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Indo-National_Avoid_High_Risk\" title=\"Indo-National: Avoid \/ High Risk\">Indo-National: Avoid \/ High Risk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#What_Ties_These_Dry_Cells_Stocks_Together\" title=\"What Ties These Dry Cells Stocks Together\">What Ties These Dry Cells Stocks Together<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#How_many_listed_dry_cells_stocks_are_there_in_India\" title=\"How many listed dry cells stocks are there in India?\">How many listed dry cells stocks are there in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Which_dry_cells_stock_looks_more_attractive_right_now\" title=\"Which dry cells stock looks more attractive right now?\">Which dry cells stock looks more attractive right now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Why_is_Indo-National_considered_high_risk\" title=\"Why is Indo-National considered high risk?\">Why is Indo-National considered high risk?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Is_the_dry_cell_battery_market_shrinking\" title=\"Is the dry cell battery market shrinking?\">Is the dry cell battery market shrinking?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/buy-sell-or-hold-eveready-indo-national-dry-cells-stocks\/#Where_can_I_track_these_dry_cells_stocks_in_real_time\" title=\"Where can I track these dry cells stocks in real time?\">Where can I track these dry cells stocks in real time?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Eveready_Industries_India_Buy_on_Dips\"><\/span><strong>Eveready Industries India: Buy on Dips<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Eveready Industries India trades at Rs 326.70, down close to 23% from its 52-week high of Rs 423.55. It combines a strong return on equity of 23.50% with a price-to-earnings ratio of 13.40, below the industry average of 15.06. That mix of solid profitability and a below-industry valuation makes it the standout of these dry cells stocks to accumulate on dips.<\/p>\n<h2 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Indo-National_Avoid_High_Risk\"><\/span><strong>Indo-National: Avoid \/ High Risk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Indo-National, maker of the Nippo brand of batteries, is at Rs 324.05, down close to 33% from its 52-week high of Rs 480.60. The company is currently loss-making, with a negative return on equity of 8.71% and no meaningful price-to-earnings ratio to lean on. Until profitability returns, this is a stock to avoid rather than one to hold through the turnaround.<\/p>\n<p><strong><a href=\"https:\/\/univest.in\/screeners\">Explore Univest&#8217;s stock screener to compare dry cells stocks on your own filters<\/a><\/strong><\/p>\n<h2 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"What_Ties_These_Dry_Cells_Stocks_Together\"><\/span><strong>What Ties These Dry Cells Stocks Together<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These two dry cells stocks currently sit at very different points despite trading at similar share price levels. Eveready Industries India has turned in solid profitability at a reasonable valuation, while Indo-National&#8217;s current losses put it in a very different risk category. Zinc and manganese input costs, along with the slow but steady shift toward lithium-ion and rechargeable alternatives, are worth watching across both names over the longer term.<\/p>\n<p><strong>Track live prices for these dry cells stocks anytime with the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> and <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a><\/strong><\/p>\n<h2 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dry cells stocks in India are a small two-player space, and of these dry cells stocks, Eveready Industries India currently looks like the more reasonable pick for gradual accumulation given its profitability and below-industry valuation, while Indo-National&#8217;s current losses keep it in higher-risk territory. As always, treat this as a starting point rather than a final word.<\/p>\n<div style=\"border-left:4px solid #C62828;background:#FFF5F5;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#C62828;\"><strong>Disclaimer:<\/strong> This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Stock market investments are subject to market risks. Please verify all data independently and consult a SEBI-registered investment adviser before making any investment decisions. Univest Financial Services Private Limited, SEBI Registered Investment Adviser, Registration No. INH000013776.<\/p>\n<\/p><\/div>\n<h2 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A few common questions on these two names, answered briefly below for quick reference.<\/p>\n<h3 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"How_many_listed_dry_cells_stocks_are_there_in_India\"><\/span><strong>How many listed dry cells stocks are there in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Only two genuine listed dry cell battery makers exist in India, Eveready Industries India and Indo-National, which makes the Nippo brand.<\/p>\n<h3 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Which_dry_cells_stock_looks_more_attractive_right_now\"><\/span><strong>Which dry cells stock looks more attractive right now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Eveready Industries India is clearly the more attractive of these dry cells stocks, combining a below-industry valuation with a strong 23.50% return on equity.<\/p>\n<h3 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Why_is_Indo-National_considered_high_risk\"><\/span><strong>Why is Indo-National considered high risk?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Indo-National is currently loss-making, with a negative return on equity of 8.71%, which means it has no meaningful price-to-earnings ratio to anchor its valuation and is best avoided until profitability returns.<\/p>\n<h3 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Is_the_dry_cell_battery_market_shrinking\"><\/span><strong>Is the dry cell battery market shrinking?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The traditional zinc-carbon and alkaline dry cell market faces long-term pressure from rechargeable lithium-ion alternatives, though dry cells remain the mass-market standard for many low-drain devices in India today.<\/p>\n<h3 style=\"font-weight:700;\"><span class=\"ez-toc-section\" id=\"Where_can_I_track_these_dry_cells_stocks_in_real_time\"><\/span><strong>Where can I track these dry cells stocks in real time?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>You can track live prices, set price alerts, and follow quarterly results for Eveready Industries India and Indo-National using the Univest iOS App and Univest Android App.<\/p>\n<div class=\"faq-schema\">\n <script type=\"application\/ld+json\">\n {\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n  {\"@type\": \"Question\", \"name\": \"How many listed dry cells stocks are there in India?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Only two genuine listed dry cell battery makers exist in India, Eveready Industries 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