Business News | Institutions and Marquee Investor Increases Stake In Gravita India
Get latest articles and stories on Business at LatestLY. Gravita India Limited (Gravita) is a strong established company recycling various materials like Lead, plastic, aluminum and rubber by establishing its footprint in the overseas market. The company has fifteen eco-friendly manufacturing facilities across three continents: Africa, Asia and Central America. The overall current capacity is 2,27,719 MTPA with 67 per cent in India and 33 per cent overseas.
New Delhi [India], January 20 (ANI/PNN): Gravita India Limited (Gravita) is a strong established company recycling various materials like Lead, plastic, aluminum and rubber by establishing its footprint in the overseas market. The company has fifteen eco-friendly manufacturing facilities across three continents: Africa, Asia and Central America. The overall current capacity is 2,27,719 MTPA with 67 per cent in India and 33 per cent overseas.
As per the updated shareholding pattern Goldman Sach India Equity has bought 10,89,213 equity shares of the Company during October- December quarter. This brings to 1.58 per cent stake in the Company.
Similarly, veteran investor Ashish Kacholia has also increased its holding in Gravita India. As per September holding, Kacholia was holding 13,51,649 equity shares with 1.96 per cent stake in the Company. During October-December quarter, his holding in the Company is increased to 14,34,399 shares with 2.08 per cent stake in the Company.
Earlier, the Abu Dhabi Investment Authority -- a sovereign state-owned wealth fund -- has bought 556,493 equity shares of Gravita India Ltd at a price of Rs 332 per share in a block deal on October 7th, 2022. This accounts for 0.81 per cent share in Gravita India Ltd.
Also Read | UIDAI Deliberates on Focus Areas Like Resident Centricity, 'Ease of Living' and Enhance Data Security.
Institutional holding has increased from 0.79 per cent in September quarter to 3.49 per cent in December quarter.
The strong performance and business growth kept attracting valuable investors to the Company.
Today, the stock is trading around Rs 470; almost doubled in last 6 months.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)