Gravita India surges as its arm enhances production capacity of existing lead recycling plant

Gravita India is currently trading at Rs. 46.00, up by 0.80 points or 1.77% from its previous closing of Rs. 45.20 on the BSE.

The scrip opened at Rs. 47.00 and has touched a high and low of Rs. 47.50 and Rs. 45.10 respectively. So far 6645 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 125.50 on 14-Sep-2018 and a 52 week low of Rs. 30.10 on 09-Aug-2019.

Last one week high and low of the scrip stood at Rs. 48.00 and Rs. 38.90 respectively. The current market cap of the company is Rs. 311.36 crore.

The promoters holding in the company stood at 72.46%, while Institutions and Non-Institutions held 1.81% and 25.73% respectively.

Gravita India’s step down subsidiary — Recyclers Ghana, West Africa, has enhanced the production capacity of its existing Lead Recycling Plant from 6,000 MTPA to 12,000 MTPA. The Group has made investment of around Rs 21 crore for establishment of this Recycling Plant having capacity of 12,000 MTPA which has been invested from internal accruals of the company.

The production from the Ghana plant will provide strategic advantage to the company to cater to the European and US Market. This plant will help the company to save the logistics cost which will reduce the working capital cycle of the company resulting in better margins.

Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.

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