Gravita India Ltd Share Price – NSE  / BSE

Non Ferrous Metals, Small Cap

Gravita India will hold a meeting of the Board of Directors of the Company on 4 October 2024.

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Gravita India announced that step down subsidiary of company Gravita Netherlands BV (herein after GNBV) has executed a Memorandum of Understanding (MOU) to acquire a Waste Tyre Recycling plant in Romania from an existing entity based out in Romania having a capacity of approx. 17,000 MTPA . This will be Gravita's 1st recycling facility in Europe.

This acquisition will be done by forming a separate SPV in Romania in which GNBV will be holding 80% of equity with management control in the said SPV and remaining equity will be held by other partners based in Romania.

Further, total investment in this transaction will be approx. Rs. 40 crore and GNBV will be investing approx. Rs. 32 crore towards its contribution subject to in depth Financial. Environmental and Legal Due Diligence.

GNBV also aims to expand its recycling business operations across the European market, leveraging new market opportunities and establishing strategic partnerships to drive growth. This acquisition will enhance our presence, increase our customer base, and strengthen our competitive edge in the European market.

The company is already having similar rubber recycling facilities Senegal, Togo, Ghana and Tanzania. This is in alignment with the company's vision of Diversification and expansion plan of replicating our recycling business in different geographies.

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Gravita India announced that the Annual General Meeting (AGM) of the company will be held on 18 September 2024.

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Mazagon Dock Shipbuilders Ltd, Garden Reach Shipbuilders & Engineers Ltd, Firstsource Solutions Ltd and Triveni Engineering and Industries Ltd are among the other losers in the BSE's 'A' group today, 20 August 2024.

Gravita India Ltd crashed 10.17% to Rs 2140 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.05 lakh shares were traded on the counter so far as against the average daily volumes of 60479 shares in the past one month.

Mazagon Dock Shipbuilders Ltd tumbled 8.55% to Rs 4318.65. The stock was the second biggest loser in 'A' group.On the BSE, 3.25 lakh shares were traded on the counter so far as against the average daily volumes of 1.68 lakh shares in the past one month.

Garden Reach Shipbuilders & Engineers Ltd lost 7.48% to Rs 1777.45. The stock was the third biggest loser in 'A' group.On the BSE, 1.61 lakh shares were traded on the counter so far as against the average daily volumes of 1.2 lakh shares in the past one month.

Firstsource Solutions Ltd plummeted 4.43% to Rs 322.5. The stock was the fourth biggest loser in 'A' group.On the BSE, 7.66 lakh shares were traded on the counter so far as against the average daily volumes of 5.76 lakh shares in the past one month.

Triveni Engineering and Industries Ltd shed 4.21% to Rs 445.95. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.5 lakh shares were traded on the counter so far as against the average daily volumes of 73399 shares in the past one month.

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