Gravita India firms up after winning order

Gravita India rose 1.15% to Rs 176 at 12:50 IST on BSE after the company received orders worth Rs 300 crore from Singapore-based Kyen Resources.

The announcement was made after market hours yesterday, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 303.33 points, or 0.90% to 33,382.21.

On the BSE, 96,000 shares were traded in the counter so far compared with average daily volumes of 30,000 shares in the past two weeks. The stock had hit a high of Rs 185 and a low of Rs 175.20 so far during the day. The stock hit a 52-week high of Rs 193.85 on 12 January 2018. The stock hit a 52-week low of Rs 48.75 on 31 March 2017.

Gravita India, a leading recycling company having its manufacturing presence around the globe, informed that it received orders worth Rs 300 crore for supplying 18000 MT of pure lead and lead bullion from Kyen Resources Pte, Singapore.

Gravita India said this order will help the company strengthen its top line and bottom line in coming FY 2018-2019. The said order will be executed during FY 2018-2019.

On a consolidated basis, net profit of Gravita India rose 27.84% to Rs 10.47 crore on 44.78% rise in net sales to Rs 240.90 crore in Q3 December 2017 over Q3 December 2016.

Gravita India is one of the largest lead producer in India. The company's segments include manufacturing, turnkey solutions and international trade.

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