Gravita India announces association with Korea Zinc; share gains over 5 per cent
On Monday, Gravita India Limited announced an annual agreement with Sorin Corporation, a subsidiary of Korea Zinc Co Limited for supplying approximately 8,000 MT of refined lead to be served in the calendar year 2021. Nevertheless, if calculated at the current lead prices, it would be an approximate contract value of Rs 125 crore.
Korea Zinc is known as the world's leading non-ferrous metal smelting company, which has established a foundation for the growth of metal stocks in Korea. It is recorded to produce about 1.2 million tonnes of various types of non-ferrous metals from zinc to lead, gold, silver, copper as well as rare materials such as indium. It has its presence largely in South East Asian countries like Vietnam, Japan, South Korea, the Philippines, and India. By entering into a contract with Korea Zinc, Gravita India aims to strengthen its presence in the Southeast Asian market.
Gravita India is into the manufacturing of lead. The segments of the company include manufacturing, turnkey projects, and trading. Established in 1992, the company has anchored more than 500 anchored-looking professionals and is dedicated to the production of lead and lead products, following environment-friendly process.
Reacting to this, the stock of Gravita India Ltd jumped by 5.24 per cent at 2.15 pm today and was trading at Rs 81.30 on BSE.