Gravita India climbs over 3% after successful main contract from Luminous

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Gravita India, a leading recycling company with a global sourcing and manufacturing presence, announced that it has signed an annual agreement with Luminous Power Technologies Private Limited, Gurgaon.

The contract provides for the delivery of 12,000 tons of refined lead and lead alloys to be exported in calendar year 2021. At current lead prices, this corresponds to an approximate order value of 180 rupees.

Founded in 1988, Luminous Power Technologies (part of Schneider Group) is a high performing and trusted brand with a wide range of innovative products in the emergency power, household electrical and home solar energy sectors, covering batteries and solar solutions for household power supply such as fans, modular switches and LED lighting are widely used in India and all over the world.

Yogesh Malhotra, Full Time Director and CEO of Gravita India Limited, said: “We are pleased to announce this prestigious contract win and collaboration with Luminious, one of the most popular brands in India with a presence in over 36 countries. This agreement drives sales and improves the capacity utilization. It will help the company to strengthen its market presence on the domestic markets as well. “

At the BSE, Gravita rose by 3.43% to Rs 85.90 per item at around 2:11 p.m.

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