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Auto battery makers gain as lead prices fall

by FP Staff  Apr 19, 2013 05:45 IST

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Reuters Market Eye - Shares of auto battery makers gain on expectations of better margins after prices of lead, a key raw material for batteries, tumble near October 2012 lows.

Lead prices have fallen 11.4 percent so far this year as of Wednesday's close.

Analysts say lead constitutes about 80 percent of battery makers' input costs.

Exide Industries Ltd (EXID.NS) gain 1.2 percent, while Amara Raja Batteries Ltd (AMAR.NS) is up 1.8 percent.

(Reporting by Abhishek Vishnoi)