Onida hikes prices of AC, TV sets by 4-5%

MIRC Electronics, maker of Onida branded consumer products, plans to raise prices of air-conditioners and television sets by 4-5%. The firm sees a revenue growth of 25-30% in FY11 and has earmarked capex of Rs 40-50 crore for FY12. It has raised advertising expenditure to Rs 130 crore from Rs 95 crore a year ago.crackcrack