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Gravita India shares gains on capacity expansion of Chittoor plant

The total capacity of Gravita Group has now reached to 2.78 lakh MTPA, which is in line with company’s target of reaching 4.25 lakh MTPA by FY26

May 26, 2023 / 02:28 PM IST
Gravita India

Gravita India

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Gravita India share price gained 2 percent on May 26 after it the company said that it had expanded the capacity of its recycling unit in Andhra Pradesh's Chittoor.

The existing capacity of the unit for battery recycling has been increased by 26,440 MTPA, taking the total capacity to 64,640 MTPA, the compnay told exchanges.

With this, the expansion total capacity of Gravita Group has reached 2.78 lakh MTPA, which is in line with the company’s target of 4.25 lakh MTPA by FY26.

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The investment in the said capacity expansion is around Rs 21 crore which has been funded through internal accruals, Gravita India said in its filing to exchanges.

The stock was trading at Rs 563 on the NSE, up 2.24 percent with a volume of 1.44 lakh shares.

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Sunil Shankar Matkar
first published: May 26, 2023 02:28 pm