Institutions and Marquee Investor Increases Stake In Gravita India

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.

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.

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( With inputs from ANI )