Gravita's Pure Lead empanelled with MCX

Gravita India Limited, a leading Recycling company having its manufacturing presence around the globe, has announced that "Refined Lead" of 99.98% purity and above produced by the company from its Chittoor plant has been empanelled as approved Lead brands deliverable against MCX Lead futures contract.

The Multi Commodity Exchange of India Limited {MCX), India's first listed exchange, is a state-of-the-art, commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and price risk management. The Exchange, which started operations in November 2003, has emerged as the market leader in the commodities future industry in the country and operates under the regulatory framework of Securities and Exchange Board of India (SEBI). Till date, only LME approved brands are deliverable on MCX platform.

The MCX empanelment will provide us an additional platform for hedging, better inventory management and price transparency in the domestic market.

Gravita, is a leading multinational recycling company having three recycling verticals Lead, Aluminium and Plastic and 13 eco-conscious state-of-the-art manufacturing facilities, with a global footprint across 70+ countries.

Shares of Gravita India Limited was last trading in BSE at Rs. 374.75 as compared to the previous close of Rs. 372.10. The total number of shares traded during the day was 17453 in over 881 trades.

The stock hit an intraday high of Rs. 381.55 and intraday low of 367.00. The net turnover during the day was Rs. 6555088.00.

Source : Equity Bulls

Keywords

GravitaIndia INE024L01027 Empanelment RefinedLead MCX LeadFuturesContract