Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in GRAVITA .
“GRAVITA is looking bullish on Daily Charts & Bullish crossover in MACD and good positive reading at CCI shows strong trend in upside, therefore I recommend traders to go long around 135.50 with a price target of around 140 & Stop loss should be placed below 130”
Gravita India Limited is engaged in manufacturing of lead. The Company’s segments include manufacturing, turnkey projects. The Company’s manufacturing segment manufactures lead (through lead smelting), lead refining and other products. Its turnkey projects segment facilitates and fabricates lead recycling, smelting and refining plants.
Infrastructure spending, Strong Automotive Sales globally, coupled with hike in LME Prices boosted the demand of Lead in F.Y. 2016-17 & this year as well. Infrastructure and automobile industries are the main demand drivers for Lead in India. During the year the operational efficiency of the company increased and the year 2016-17 resulted in an exceptional year where the revenues and profitability of the company increased significantly and company reported a life time high Turnover and Profit.
The company’s Q1FY18 consolidated net profit also increased 47.3 percent at Rs 10.9 crore against Rs 7.4 crore, in a year ago period. The revenue of the company jumped 46 percent to Rs 201.5 crore versus RS 138 crore. The operating profit (EBITDA) was up 0.8 percent at Rs 18.9 crore and EBITDA margin was up at 10 percent.
GRAVITA was closed 3.51 percent up today at Rs 129.80 at NSE.