Gravita India gains after Rs. 300 crore order win
Gravita India soared over 6 per cent intraday on Friday after the company announced that it has bagged a Rs. 300 crore order from a Singapore firm.
The company received the order from Kyen Resource Pte, Singapore for supply of 18,000 MT of pure lead and lead bullion. Kyen Resources is backed by a leading supply chain management company from China having presence in Europe, North America, South America, Africa and Asia.
The order will be executed during FY19 and will help the company strengthen its top line and bottom line in the next financial year, said the company in a regulatory filing.
Gravita India is a leading manufacturer and exporter of Lead Metal, Specific Lead alloys, Lead oxides, Lead sheet and Lead Powder.
At 12:38 hours, Gravita was trading at Rs. 175.90 per share, up Rs. 1.90 or 1.09 per cent on BSE. The scrip opened at Rs. 176.50 and soon touched an intraday high of Rs. 185. The stock has a 52-week high of Rs. 193.85 and 52-week low of Rs. 48.75 per share on BSE. The stock attracted a traded volume of 95,431 shares on BSE.