Gravita India is currently trading at Rs. 410.80, up by 8.70 points or 2.16% from its previous closing of Rs. 402.10 on the BSE.
The scrip opened at Rs. 406.05 and has touched a high and low of Rs. 412.90 and Rs. 406.05 respectively. So far 51,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 421.85 on 04-Apr-2011 and a 52 week low of Rs. 165.70 on 10-Dec-2010.
Last one week high and low of the scrip stood at Rs. 421.85 and Rs. 335.60 respectively. The current market cap of the company is Rs. 547.66 crore.
The promoters holding in the company stood at 73.52% while Institutions and Non-Institutions held 7.45% and 19.03% respectively.
Gravita India together with its subsidiary company - Gravita Exim has acquired 60% stake in K. M. Udyog, Jammu. The installed lead manufacturing and refining capacity of K. M. Udyog, Jammu is 7200 MT per annum.
With this acquisition, the enhanced capacity of the company will be 45,900 MT per annum. The addition of K. M. Udyog, Jammu is expected to improve the top and bottom line of Gravita India by around rupees sixty five crores and rupees three crores respectively during the financial year 2011-12.
In January this year, Gravita India’s subsidiary - Gravita Exim - has completed the disinvestment of 287,450,000 shares of ZMK 1 each, held by the said subsidiary in Gravita Zambia on December 25, 2010. Gravita Zambia, a wholly owned subsidiary of Gravita Group of Companies, is a growing name in Lead Recycling & Process industries of Zambia. The company is promoted to manufacture Remelted Lead & Plastic Recycling.
Gravita India manufactures lead metal using recycling and smelting process, besides it also makes other lead based products and lead alloys. Lead is the second most recycled metal in the world and is also most widely used across in industrial sectors, especially automobiles.
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