Shares of Gravita India touched a 52-week excessive of Rs 249.70, gaining 6.five percentage intraday on December 13, after the employer began operations at its new recycling plant at Mundra, Gujarat.

“Gravita introduced operationalization of its new Battery recycling unit at Mundra Port, Gujarat. In Phase-I, 19,500 MTPA plant is strategically positioned on the Mundra Port and is geared up with brand new facility centers inclusive of brand new generation and automatic processes,” as according to the employer’s press release.

The employer has incurred capital expenditure of Rs 32 crore for putting in of the Phase-I of the facility, of which Rs 26 crore turned into via outside borrowings, and the last through inner accruals.

Going forward, the employer has plans to incur extra capital expenditure of Rs 30 crore in this facility on the way to boom the ability of from 19,500 MTPA to forty eight,000 MTPA, the employer said.

At 10:36 hrs, Gravita India turned into quoting at Rs 242.60, up Rs 8.15, or 3.forty eight percentage at the BSE.