Gravita defying gravity indeed!
By
Research Desk
about 8 years ago
Gravita India is showing some good activity today morning. The stock price is currently up 10% at Rs.33.75 with an intra day high at Rs.34.25. Volumes are up 2.5 times.
The stock price is witnessing this activity, reacting to the news it announced yesterday after market closure. The company stated that it has begun commercial production of PET recycling by setting up plant through its step down subsidiary, located in Nicaragua. The present annual production capacity is at 3600 MTPA.
The company which is engaged in the manufacture of lead metal by recycling & smelting process had ended Q2FY16 24% (YoY) drop in net profit at Rs.3 crore on a 32% drop in net sales at Rs.104 crore.