Gravita India Ltd. wins major contract from Luminous

Gravita India Limited, a leading recycling company having a global procurement and manufacturing presence, is glad to inform that the company has signed an annual agreement with Luminous Power Technologies Private Limited, Gurgaon for supplying 12,000 MT of Refined Lead and Lead Alloys, to be executed in calendar year 2021, which at current lead prices would be an approximate contract value of INR 180 Crores.

Established in 1988, Luminous Power Technologies, (a part of Schneider Group) is a powerful and trustworthy brand with a wide range of innovative products in the power backup, home electrical and residential solar space that covers, inverters Batteries, Solar solutions to home electrical offerings such as Fans, Modular Switches and LED lighting having its wide presence in India as well as around the globe.

Mr. Yogesh Malhotra, Whole-time Director & CEO, Gravita India Limited said, "We are delighted to announce this prestigious contract win and association with Luminious, which is one of the most popular brands in India with a presence in over 36 countries. Apart from boosting sales and improving utilisations, this agreement will help the company to strengthen its market presence in domestic markets as well."

Shares of GRAVITA INDIA LTD. was last trading in BSE at Rs.84.95 as compared to the previous close of Rs. 83.05. The total number of shares traded during the day was 64924 in over 1654 trades.

The stock hit an intraday high of Rs. 88.5 and intraday low of 79.4. The net turnover during the day was Rs. 5444859.

Source : Equity Bulls

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