Gravita India rose 4.38% to Rs 131 at 14:34 IST on BSE after the company said it has raised its capacity at its Chittoor unit to 28,000 MTPA from 12,000 MTPA.
The announcement was made during market hours today, 6 September 2017.Meanwhile, the S&P BSE Sensex was down 98.92 points or 0.31% at 31,710.63. The S&P BSE Small-Cap advanced 89.92 points or 0.56% at 16,283.10.
On the BSE, 3.03 lakh shares were traded on the counter so far as against the average daily volumes of 1.72 lakh shares in the past one quarter. The stock had hit a high of Rs 132 and a low of Rs 123.50 so far during the day. The stock had hit a 52-week high of Rs 134.65 on 1 September 2017 and a 52-week low of Rs 28.25 on 29 September 2016.
The stock had outperformed the market over the past one month till 5 September 2017, advancing 26.13% compared with the Sensex's 1.6% fall. The stock had also outperformed the market over the past one quarter, gaining 58.86% as against the Sensex's 1.6% rise. The scrip had also outperformed the market over the past one year, advancing 325.42% as against the Sensex's 11.49% rise.
The small-cap company has equity capital of Rs 13.74 crore. Face value per share is Rs 2.
Gravita invested about Rs 20 crore for the latest capacity expansion which was raised partly as a term loan and the remainder from internal accruals.
On a consolidated basis, Gravita India's net profit rose 48.3% to Rs 10.93 crore on 44.3% growth in net sales to Rs 189.40 crore in Q1 June 2017 over Q1 June 2016.
Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.
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