Gravita India shares surge 3% following the launch of its aluminium recycling operations in Ghana

Gravita India Limited is one of the leading global recycling companies known for its expertise in recycling aluminium scrap, used batteries, and lead scrap. More recently, it saw a surge of 3 per cent in its stock during the day's trade. 

Why the 3% surge

The reason behind this stock surge can be attributed to the announcement of the launch of commercial production of recycled aluminium alloys at its new facility in Ghana, West Africa.  Operated by its step-down subsidiary, Recyclers Ghana Limited, the plant boasts an initial annual recycling capacity of 4,000 metric tonnes (MTPA) in Phase I, with plans to expand to 8,000 MTPA in future phases.

The company has invested approximately INR 6.75 crore in the facility, financed through internal accruals. The plant will process domestic aluminium scrap to serve Europe and Asia's automotive and die-casting industries.

About the initiative

This initiative aligns with Gravita's strategy to replicate its recycling operations globally, further strengthening its international presence. The company has invested approximately INR 6.75 crore in the facility, financed through internal accruals.

The plant will process domestic aluminium scrap to serve Europe and Asia's automotive and die-casting industries. This initiative aligns with Gravita's strategy to replicate its recycling operations globally, further strengthening its international presence. Gravita India Limited, with a market capitalisation of INR 16,440 crores, saw its shares trading at INR 2,230.25 per equity share, marking a 2.5 per cent increase from the previous day's closing price of INR 2,176.30.

About Gravita

Gravita currently operates aluminium recycling facilities in Senegal, Mozambique, Tanzania, Togo, and India. The addition of the Ghana plant further diversifies its operations and strengthens the contribution of its aluminium business segment to the company's overall sales mix. With 12 state-of-the-art, eco-conscious manufacturing facilities worldwide, Gravita boasts a combined processing capacity of 308,659 MTPA and a presence in over 70 countries. Backed by over three decades of recycling expertise, the company continues to lead in sustainability and innovation across its five business verticals.