2025-05-01 15:08:22
Latest Post
Monarch Networth Capital IFSC Pvt. Ltd. receives Registered Fund Management Entity (Retail) License from IFSCA, GIFT City
Lucent Industries Ltd enters into partnership agreement with Clusterdev Technologies Pvt Ltd
South Indian Bank hosts Season 1 of National Co-lending Summit - SEED
Inox Green signs agreement for O&M of 675 MWp of solar projects
Union Bank of India Launches MSME & CASA Outreach Programs to pass on benefits of back to back RBI-MPC rate cuts and Deepen Customer Engagement
Stock Report
Gravita starts Battery Recycling in Togo
Posted On : 2023-08-29 22:06:51( TIMEZONE : IST )
Gravita India Limited, a leading "Recycling Company" having its manufacturing presence around the globe, has announced that its step down subsidiary situated in Togo, West Africa has started commercial production of Lead from its existing recycling plant having an annual capacity of around 6,000 MTPA.
Further, the company has been sourcing scrap from Togo for the last 3 years and has set a strong scrap collection network before establishing the plant.
The Company is already having similar Battery recycling facility in Tanzania, Senegal, Mozambique, Sri Lanka, Ghana and India. This is in alignment with the company's vision of replicating its recycling business in different geographical locations. Further, the Company is already having Aluminum recycling plant having an annual capacity of 4,000 MTPA in Togo, West Africa and this new facility will enjoy the benefits of economy of scale and will be cost effective due to saving in logistic cost.
The Group has invested approx. Rs. 3.61 crores for commissioning of the new Battery recycling facility which is funded from internal accruals of the company.
The Company will be procuring domestic scrap for recycling from this plant and it will cater the needs of Battery Industry globally. This recycling facility will help company in expanding its recycling business.
Gravita is a leading global recycling company with 11 eco-conscious state-of-the-art manufacturing facilities across the globe with a capacity of 2,84,059 MTPA. The Group is having global footprints in 70+ countries, having recycling DNA of 30+ years with 5 business verticals. The company is amongst the top 1,000 listed companies on NSE and BSE Ltd.
Shares of Gravita India Limited was last trading in BSE at Rs. 749.65 as compared to the previous close of Rs. 749.00. The total number of shares traded during the day was 17060 in over 1487 trades.
The stock hit an intraday high of Rs. 760.30 and intraday low of 742.40. The net turnover during the day was Rs. 12788859.00.
