Lead metals and products firm Gravita India today said it has acquired 60% stake in Jammu- based KM Udyog, which has an installed lead manufacturing and refining capacity of 7,200 tonne per annum.
Following the announcement, the scrip of the company jumped to a new high of Rs 402.10 apiece on the Bombay Stock Exchange (BSE), up 2.69% from the previous close.
"The addition of KM Udyog, Jammu, is expected to improve the top and bottom line of the company by around Rs 65 crore and Rs 3 crore respectively during 2011-12," it said in a filing to the BSE.
With this addition, the enhanced capacity of the company will be 45,900 tonne per annum, the filing added without disclosing the value of the transaction.
The Jaipur-based company manufactures lead metal, lead oxide and lead products among others and was listed on the bourses in November last year.
For the October-December, 2010 quarter, the Gravita India had registered a net profit of Rs 2.64 crore and had a net sales of Rs 53.13 crore.
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