Jan 5: Gravita India Ltd, a leading global recycling company on Friday said that it has started commercial production of Lead Tetra Oxide (commercially known as Red Lead Oxide) by installing new modern continuous production plant at its Jaipur unit with a capacity of 7,500 MTPA.
“The production of Red Lead Oxide is a value added product and it will help compnay to cater new segments like ceramic tiles, crystal glass, anti-corrosive paints and inverter and solar batteries,” the company said in a BSE filing.
According to the company, it has made an investment of approximately Rs 183 lakh for procuring and commissioning of this new plant which is invested from internal accruals of the company.
Based in Jaipur, Gravita India Ltd carries out the business of smelting of lead ore/lead concentrate/lead battery scrap to produce primary and secondary lead metal, which is further transformed into pure lead, specific lead alloy, lead oxides (lead sub-oxide, red lead, and litharge) and lead products like lead sheets, lead pipes etc.
Shares of the company jumped more than 6% to touch a new 52-week high of Rs 179 on BSE morning trade, after the news came in. At 11.23 am, the Rs 2 face value shares were trading at Rs 176.05, up 6.12% from the previous closing of Rs 165.90.