Gravita India rallies 11.8% in two days

Gravita India rose 3.64% to Rs 92.60 at 11:13 IST on BSE, with the stock extending Friday's 7.91% rally triggered by the company securing an export order worth Rs 230 crore from leading metal trader for Asian and US market.

Meanwhile, the S&P BSE Sensex was down 203.55 points or 0.75% at 26,857.49.

On BSE, so far 1.06 lakh shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter.

The stock hit a high of Rs 93.55 and a low of Rs 88.45 so far during the day. The stock had hit a 52-week high of Rs 94.20 on Friday, 12 September 2014. The stock had hit a 52-week low of Rs 25 on 12 September 2013.

The stock had outperformed the market over the past one month till 12 September 2014, advancing 13.03% compared with the Sensex's 4.56% rise. The scrip had also outperformed the market in past one quarter, jumping 18.73% as against Sensex's 5.81% rise.

The small-cap company has equity capital of Rs 13.64 crore. Face value per share is Rs 2.

Shares of Gravita India have rallied 11.83% in two trading sessions from Rs 82.80 on 11 September 2014, after the company during market hours on Friday, 12 September 2014 said it has bagged an export order worth Rs 230 crore from leading metal trader for Asian and US market. The stock had surged 7.91% to settle at Rs 89.35 on Friday, 12 September 2014.

Gravita India said that the order will be executed within a span of next 12 months from port based manufacturing unit at Gandhidham in Gujarat.

On a consolidated basis, Gravita India's net profit rose 62.2% to Rs 1.46 crore on 16.9% growth in net sales to Rs 109.78 crore in Q1 June 2014 over Q1 June 2013.

Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.

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