/ Gravita Begins Commercial Production Of Lead At Andhra Pradesh Plant Stocks Up 2.3% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 5 January 2017

Recycling company Gravita India Limited has commenced commercial production of Lead metal at its new recycling plant situated at Chittor in Andhra Pradesh.

The plant will have a production capacity of 12,000 MTPA and will grab the opportunity of deomestic scrap available with the large telecom players and UPS batteries from IT offices in and around southern market.

The projected cost of the plant is approximately Rs 25 crore for which approximately Rs 15.46 crore is funded by way of secured term loan from Punjab National bank and the balance from inyernal accruals of the company.

Gravita India Ltd is currently trading at Rs 40.8, up by Rs 0.95 or 2.38% from its previous closing of Rs 39.85 on the BSE. The scrip opened at Rs 40.55 and has touched a high and low of Rs 41.7 and Rs 40.2 respectively. So far 173753(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 272.84 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 47.75 on 29-Nov-2016 and a 52 week low of Rs 16 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 42.5 and Rs 38.7 respectively. The promoters holding in the company stood at 73.11 % while Institutions and Non-Institutions held 4.83 % and 22.06 % respectively. The stock is currently trading above its 50 DMA.
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