14 Sep 2024

Ganesha Ecosphere Rises After Forming Joint Venture

Ganesha Ecosphere's stock is trading at Rs. 1944.30, marking an increase of 1.15 points or 0.06% compared to its previous close of Rs. 1943.15 on the BSE.

The stock began the day at Rs. 1950.25, hitting a high of Rs. 1960.00 and a low of Rs. 1914.90 during the session. A total of 21,662 shares have been traded so far.

This BSE group 'B' stock, with a face value of Rs. 10, reached a 52-week high of Rs. 2049.70 on August 23, 2024, and a 52-week low of Rs. 813.00 on November 3, 2023.

Over the past week, the stock's high was Rs. 2024.90, while the low stood at Rs. 1872.40. The company's current market capitalization is Rs. 4882.46 crore.

Promoters hold 36.44% of the company, with institutions owning 31.41% and non-institutional investors holding 32.15%.

On September 10, 2024, Ganesha Ecosphere established a joint venture company named 'Ganesha Recycling Chain' in collaboration with Race Eco Chain. The venture aims to set up washing plants to produce PET flakes, a move intended to reinforce the company's PET waste supply chain.

Ganesha Ecosphere is a key player in recycling PET plastic bottle waste into polyester spun yarn, rPET fiber, and rPET yarn.