Gravita India jumps on increasing capacity of recycling unit in Chittoor Facility
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Gravita India is currently trading at Rs. 571.85, up by 23.20 points or 4.23% from its previous closing of Rs. 548.65 on the BSE.
The scrip opened at Rs. 554.70 and has touched a high and low of Rs. 574.15 and Rs. 551.90 respectively. So far 18850 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 595.00 on 17-May-2023 and a 52 week low of Rs. 230.95 on 12-Jul-2022.
Last one week high and low of the scrip stood at Rs. 574.30 and Rs. 536.00 respectively. The current market cap of the company is Rs. 3884.42 crore.
The promoters holding in the company stood at 73.00%, while Institutions and Non-Institutions held 3.33% and 23.67% respectively.
Gravita India has increased capacity of its existing recycling unit situated at Chittoor, Andhra Pradesh (Facility). The existing capacity of said unit for Battery recycling has been increased by 26,440 MTPA bringing the total capacity of Battery recycling of this unit to 64,640 MTPA.
With this expansion the total capacity of Gravita Group has reached to 2,78,059 MTPA which is in line with company’s target to reach 4,25,000 MTPA by F.Y. 2026. The investment in the said capacity expansion is around Rs 21 crore which has been funded through internal accruals of the company.
Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.
