Stock in focus: Gravita India

The MCX empanelment will provide the company, an additional platform for hedging, better inventory management, and price transparency in the domestic market.

Gravita India Limited has announced that "refined lead" of 99.98 per cent purity and above produced by the company from its Chittoor plant has been empanelled as approved lead brands deliverable against MCX Lead Futures contract.  

Currently, the stock is trading up by over half a per cent; however, it made a high of Rs 382 during the day but is still nearly 6 per cent away from its all-time high of Rs 398, which was registered on February 09, 2022.   

The stock has jumped nearly 29 per cent on a YTD basis. Meanwhile, it has gained 12 per cent on an MTD basis.   

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 & Exchange Board of India (SEBI). Till date, only LME-approved brands are deliverable on MCX platform.  

The MCX empanelment will provide the company, an additional platform for hedging, better inventory management, and price transparency in the domestic market.  

Gravita India Ltd is a leading multinational recycling company having three recycling verticals namely, lead, aluminium, and plastic along with 13 eco-conscious state-of-the-art manufacturing facilities, with a global footprint across 70+ countries.