Market Performance
Gravita India Ltd's share price surged 4% on June 6, reaching an intraday high of ₹1,910 on the NSE. By afternoon, the stock was trading at ₹1,866.1, still up 2%.
- 1-Year Gain: ~70%
- 6-Month Decline: ~16%
Main News: Govt Nears Approval for Critical Mineral Recycling Scheme
India is set to finalize an incentive scheme to boost the recycling of 24 critical minerals, including lithium and cobalt, as per a government document.
Key Highlights of the Scheme:
- Capital expenditure subsidies for approved recyclers
- Focus on lithium-ion battery recycling
- Expected rollout later this year
This move aligns with India's push toward clean energy and reducing reliance on imported minerals.
Company Details: Gravita India's Business
Gravita India is a leading recycling company specializing in:
- Lead metal & lead products
- Aluminium alloys
- Plastic granules
The company operates manufacturing and recycling units globally, positioning it well to benefit from the new scheme.
Global Push for Critical Mineral Security
- Piyush Goyal (Commerce Minister) warned about the risks of supply chain concentration in a few countries.
- India & Italy are exploring joint ventures in critical mineral recycling.
Why Critical Minerals Matter?
Essential for manufacturing:
- Electric vehicles
- Wind turbines
- Other clean energy tech
Summary
- Gravita India's stock rose 4% on hopes of scheme approval.
- The government's recycling incentive plan covers 24 minerals, including lithium and cobalt.
- The company stands to gain as a key player in India's recycling sector.
This development could further boost Gravita India's share price as the policy takes shape. Stay tuned for updates!
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