Gravita's Pure Lead from Mundra Plant got Empanelled with MCX

Gravita India Limited, a leading "Recycling Company" having its manufacturing presence around the globe, announced that "Pure Lead" meeting the MCX purity standards, produced at its Mundra, Gujarat plant has been empaneled as an approved Lead Brands deliverable against MCX lead futures contract. Further, the Pure Lead manufactured by Chittoor and Phagi plants of the company are already an MCX empaneled products.

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).

The MCX empanelment will provide us with an additional platform for hedging, better inventory management and price transparency in the domestic market. This empanelment will also increase the availability of high-quality lead for delivery against MCX lead futures contracts, benefiting market participants. It also aligns with Gravita group's vision "To be the most valuable company in the recycling space globally".

Gravita is a leading global recycling company with 12 eco-conscious state-of-the-art manufacturing facilities across the globe with a capacity of 2,90,859 MTPA. The Group has global footprint in 70+ countries having recycling DNA of 30+ years with 5 business verticals. The company is amongst the top 1,000 listed companies on NSE and BSE Ltd.

Shares of Gravita India Limited was last trading in BSE at Rs. 870.80 as compared to the previous close of Rs. 878.80. The total number of shares traded during the day was 27919 in over 2689 trades.

The stock hit an intraday high of Rs. 896.40 and intraday low of 852.60. The net turnover during the day was Rs. 24189304.00.

Shares of Multi Commodity Exchange of India Limited was last trading in BSE at Rs. 3618.05 as compared to the previous close of Rs. 3515.10. The total number of shares traded during the day was 27192 in over 3519 trades.

The stock hit an intraday high of Rs. 3625.00 and intraday low of 3497.55. The net turnover during the day was Rs. 97738479.00.

Source : Equity Bulls

Keywords

GravitaIndia INE024L01027 Lead MundraPlant Empanelment MultiCommodityExchangeofIndia INE745G01035 MCX