Gravita trades jubilantly on venturing into business of plastic recycling

Gravita India is currently trading at Rs. 34.25, up by 3.50 points or 11.38% from its previous closing of Rs. 30.75 on the BSE.

The scrip opened at Rs. 31.75 and has touched a high and low of Rs. 34.25 and Rs. 31.75 respectively. So far 73192 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 68.10 on 08-Jan-2015 and a 52 week low of Rs. 24.60 on 24-Aug-2015.

Last one week high and low of the scrip stood at Rs. 34.25 and Rs. 29.20 respectively. The current market cap of the company is Rs. 210.23 crore.

The promoters holding in the company stood at 73.30% while Institutions and Non-Institutions held 7.41% and 19.30% respectively.

Gravita India, a leading Indian Multinational Company, has commenced commercial production of Pet Recycling by setting up plant through its step -down subsidiary Gravita Nicaragua S.A. situated in Nicaragua. The entering into pet recycling business will enhance the recycling DNA of the group. The present annual production capacity of the said plant is 3600 MTPA.

Gravita India along with its subsidiaries has business across border in about 44 countries. The company deals in Lead and Lead related products. The major products of the company comprise of pure Lead, Refined Lead Ingots, Lead Alloy, Red Lead, Litharge etc. The company is also engaged into trading activities and supply of Lead plants and turnkey projects.