Gravita India rises as its arm gets ESG loan from European Developmental Financial Institutions
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Gravita India is currently trading at Rs. 563.00, up by 5.10 points or 0.91% from its previous closing of Rs. 557.90 on the BSE.
The scrip opened at Rs. 573.00 and has touched a high and low of Rs. 574.35 and Rs. 557.35 respectively. So far 73155 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 574.35 on 03-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. 574.35 and Rs. 499.95 respectively. The current market cap of the company is Rs. 3903.40 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’s step down subsidiary -- Gravita Netherlands BV has been provided 34 million Euros ESG loan from European Developmental Financial Institutions Societe De Promotion Et De Participation Pour La Cooperation Economique S.A. ‘Proparco’ and Oesterreichische Entwicklungsbank AG ‘OeEB’.
The Facility has been granted after rigorous due diligence on various Environmental, Social and Governance aspects at Gravita's manufacturing subsidiaries which showcases the company's commitment to sustainability and circular economy. This facility enables Gravita’s offshore businesses to gain financial independence for their capex and working capital needs. The facility is guaranteed by the parent Gravita India.
Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.
