Gravita hits 52-week high, starts commercial production of Red Lead Oxide from Jaipur plant
Shares of Gravita India touched 52-week high of Rs 179, rising 8 percent intraday Friday as it has started commercial production of Lead Tetra Oxide.
The company has started commercial production of Lead Tetra Oxide by installing new state of art continuous process production plant at its Jaipur unit with a capacity of 7500 MTPA.
The production of Lead Tetra Oxide is a value added product and it will help company to cater new segments like, ceramic tiles, crystal glass, anti-corrosive paints and inverter and solar batteries.
The company has made an investment of approximately Rs 183 lakh for procuring and commissioning of this new modern plant which is invested from internal accruals of the company.
At 11:32 hrs Gravita India was quoting at Rs 175, up Rs 9.10, or 5.49 percent on the BSE.
Posted by Rakesh Patil