Gravita India shares jumped more than 16% this week following the company’s significant announcement regarding its European expansion strategy. The company disclosed that a step-down subsidiary of Gravita Netherlands BV (GNBV) has signed a Memorandum of Understanding (MOU) to acquire a Waste Tyre Recycling plant located in Romania.
The acquisition will be executed through the formation of a separate Special Purpose Vehicle (SPV) based in Romania. GNBV will hold an 80% stake in this SPV, securing both equity and management control, while the remaining equity will be shared with local partners based in Romania.
Stock Performance on Friday
– Open: ₹2,349.00
– High: ₹2,631.90
– Low: ₹2,340.00
