Gravita's Pure Lead Empaneled with Multi Commodity Exchange of India Limited

Gravita India Limited, a leading "Recycling Company" having its manufacturing presence around the globe, hereby announces that "Pure Lead" of 99.98 % purity and above produced by the company from its Phagi, Jaipur plant has been empaneled as approved Lead Brands deliverable against MCX lead futures contract. Furthermore, the Pure Lead manufactured by Chittoor plant of the company is already a MCX empaneled product.

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.

In addition, the Multi Commodity Exchange of India Limited (MCX) maintains a global and stringent quality approach that is on par with international exchanges. MCX's commitment to quality is reflected in their approval process, and Gravita's empanelment reaffirms the company's quality-driven approach. The products manufactured at Gravita's plants adhere to global standards, ensuring excellence in every aspect of production.

The MCX empanelment will provide us an additional platform for hedging, better inventory management and price transparency in the domestic market. In addition, this is in line with Gravita group's vision "To be the most valuable company in the recycling space globally."

Gravita is a leading global recycling company with 11 eco-conscious state-of-the-art manufacturing facilities across the globe with a capacity of 2,78,059 MTPA. The Group is having global footprints in 70+ countries, having recycling DNA of 30+ years with 5 business verticals. The company is amongst the top 600 listed companies on NSE and BSE Ltd.

Shares of Gravita India Limited was last trading in BSE at Rs. 663.50 as compared to the previous close of Rs. 619.75. The total number of shares traded during the day was 96932 in over 3935 trades.

The stock hit an intraday high of Rs. 668.00 and intraday low of 621.05. The net turnover during the day was Rs. 62952781.00.

Source : Equity Bulls

Keywords

GravitaIndia INE024L01027 PureLead Approved MCX LeadFuturesContract Delivery