Gravita India spurts after bagging export order

Gravita India rose 7.85% to Rs 89.30 at 12:42 IST on BSE after the company said it bagged an export order worth Rs 230 crore from leading metal trader for Asian and US market.

The company made the announcement during trading hours today, 12 September 2014.

Meanwhile, the BSE Sensex was up 28.42 points, or 0.11%, to 27,024.29.

On BSE, so far 3.35 lakh shares were traded in the counter, compared with an average volume of 94,326 shares in the past one quarter.

The stock hit a high of Rs 91.05 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 85 so far during the day. The stock hit a 52-week low of Rs 25 on 12 September 2013.

The stock had outperformed the market over the past one month till 11 September 2014, rising 26.51% compared with 5.79% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 43.01% as against Sensex's 5.97% rise.

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

Gravita India, a Jaipur-based lead metal and downstream lead products producer, said 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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