Shares of Gravita India rose over 2% in Friday’s session, trading at ₹1,913.35 as of 9:38 AM, after the company announced the successful completion of an overseas acquisition. The company informed that its step-down subsidiary, Gravita Netherlands BV (GNBV), has completed the acquisition of a rubber recycling plant in Romania through a new SPV, in which GNBV holds 80% equity with management control.
The investment for the acquisition amounts to approximately ₹40 crore, with GNBV contributing around ₹32 crore. The newly acquired plant has a waste tyre recycling capacity of 18,000 MTPA, expanding Gravita’s footprint in the circular economy space in Europe. This move follows the initial announcement made on September 11, 2024, regarding the MoU for this deal.
As of Friday morning, Gravita India shares have gained ₹39.35 or 2.10% from the previous close of ₹1,874. The stock touched an intraday high of ₹1,918.70, with a market cap of ₹139.52 billion and a P/E ratio of 45.93.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
