Sensex rises 100 pts, Nifty above 9900 ahead of Reliance Industries AGM

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The share price of Gravita India jumped 5 percent intraday as it has started recycling and commercial production of PET Flakes at its Jamaica plant.

The company's step down subsidiary Gravita Jamaica has started recycling and commercial production of PET Flakes (Polyethylene Terephthalate) by installing an ultra-modern PET Hot Wash Line with an annual capacity of 4800 MTPA.

Gravita Group has made an investment of Rs 6.5 crore for procuring and commissioning of this new ultra-modern recycling plant which is funded from the internal accruals of the company.

The plant is expected to generate revenues of approximately Rs 10 crore coupled with gross margins of 37 percent in its initial year.

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