Gravita India climbs over 3% after winning major contract from Luminous

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

The contract is for supplying 12,000 MT of Refined Lead and Lead Alloys, to be executed in calendar year 2021, which at current lead prices would be an approximate contract value of Rs180cr.

Established in 1988, Luminous Power Technologies, (a part of Schneider Group) is a powerful and trustworthy brand with a wide range of innovative products in the power backup, home electrical and residential solar space that covers, inverters Batteries, Solar solutions to home electrical offerings such as Fans, Modular Switches and LED lighting having its wide presence in India as well as around the globe.

Yogesh Malhotra, Whole-time Director & CEO, Gravita India Limited said, "We are delighted to announce this prestigious contract win and association with Luminious, which is one of the most popular brands in India with a presence in over 36 countries. Apart from boosting sales and improving utilisations, this agreement will help the company to strengthen its market presence in domestic markets as well. "

On the BSE, at around 2:11PM, Gravita was trading up by 3.43% at Rs85.90 per piece.