Gravita India rose 3.46% to Rs 80.75 after the company secured an order worth about Rs 125 crore for supplying refined lead to South Korea's Sorin Corporation.
Gravita India has signed an annual agreement with Sorin Corporation, a subsidiary of Korea Zinc Co, for supplying of approx 8,000 MT of refined lead to be executed in calendar year 2021. At current lead prices, the contract would be approximate valued at Rs 125 crore.Korea Zinc is a world's leading non-ferrous metal smelting company that has served as a foundation for the growth of the base metal industry in Korea.
Yogesh Malhotra, whole-time director, Gravita India said: "We are delighted to announce our association with Korea Zinc, which is one of the largest non-ferrous metal smelting companies in Korea and probably the world. This contract will help the company to strengthen its market presence in the South East Asian market.
Gravita India has integrated operations in non-ferrous metals and plastics recycling, manufacturing and turnkey businesses in 8 countries of Asia, Africa and South America Continent. The company enjoys patronage of its products in more than 59 countries.
The company reported 79.7% jump in consolidated net profit to Rs 11.50 crore on a 3.6% rise in net sales to Rs 339.38 crore in Q2 FY21 over Q2 FY20.
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