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Gravita shines on expanding capacity at Chittoor Unit to 28000 MTPA

06 Sep 2017 Evaluate

Gravita India is currently trading at Rs. 130.20, up by 4.70 points or 3.75% from its previous closing of Rs. 125.50 on the BSE.

The scrip opened at Rs. 126.00 and has touched a high and low of Rs. 131.70 and Rs. 123.50 respectively. So far 171619 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 134.65 on 01-Sep-2017 and a 52 week low of Rs. 28.25 on 29-Sep-2016.

Last one week high and low of the scrip stood at Rs. 134.65 and Rs. 113.95 respectively. The current market cap of the company is Rs. 893.16 crore.

The promoters holding in the company stood at 73.02%, while institutions and non-institutions held 4.59% and 22.39% respectively.

Gravita India has raised capacity at its Chittoor unit to 28,000 MTPA from 12,000 MTPA. The company added 16,000 MTPA capacity at Chittoor, in Andhra Pradesh, making it the flagship plant of the Jaipur-based company.

At present, Gravita is utilizing more than 65% of its existing capacity at the Chittoor Unit. The company invested around Rs 20 crore in this expansion which was raised partly as a term loan and the remainder from internal accruals.

This plant is designed using state-of-art technology. It has grabbed the opportunity of domestic Lead Battery scrap available with the large telecom players, UPS OEM's, IT & ITES companies and automobile workshops in and around the southern markets.

Besides, Gravita has signed long term contracts with these establishments to collect their pan-India scrap in a cost-effective manner. Gravita exports the finished goods using the nearest Chennai Port, thus, saving on logistics costs. The Chittoor plant will help Gravita to further strengthen its presence in the southern markets and boost its exports to the South East Asian region.

Gravita is a public listed company and has carved a niche for itself, in the field of recycling in a very short span of time. It has 8 manufacturing setups in 6 countries.

Gravita India Share Price

1587.30 -39.50 (-2.43%)
23-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1041.40
Vedanta 735.60
Hindustan Zinc 592.05
Jain Resource Recycl 409.85
Gravita India 1587.30
View more..

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