Shares of Gravita India Limited fell 2% after touching a day’s high of Rs 1,579.80 on 27th January, despite the firm announcing on Friday (23rd January) its entry into lithium-ion battery recycling with the launch of a recycling plant at Mundra, Gujarat. The facility has a capacity of 6,000 metric tonnes per annum (MTPA).

Gravita has invested around Rs 14 crore to set up the lithium-ion battery recycling plant, funded through internal accruals.

The Mundra facility will focus on safe and sustainable recycling, aiming to reduce environmental impact and conserve critical resources.

The company has deployed advanced technology to improve efficiency and scalability. At the same time, it is minimising the use of toxic chemicals and waste generation.

This venture is part of Gravita’s broader push towards a circular economy. It does so by reusing valuable materials and lowering dependence on mining raw materials.

Gravita said the initiative aligns with its sustainability goals and with the global shift towards cleaner, more efficient energy solutions.

With the rising adoption of electric vehicles, the company plans to expand its recycling operations. Additionally, it will collaborate with EV and renewable energy players to strengthen its presence in the global battery recycling market.

At 10:24 AM, shares of Gravita India were trading 2.06% lower at Rs 1,518 on NSE.

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