Cerebra gains on commencement of second factory in Karnataka

Cerebra Integrated Technologies announced that the company has commenced construction of their second factory building that will be fully-automated, pollution-free, E-waste recycling facility to handle specifically white goods. Reacting to the announcement, the share price of the company has gone up by over 4 per cent.

The new plant is located in the company’s 12-acre plot at Narasapura, Kolar District, Karnataka. It is projected to be ready and operational by the end of this year. The existing facility is India’s largest E-waste recycling facility that has a capacity of 96,000 MT per annum.

Cerebra Integrated Technologies Limited is an India-based company which provides hardware trading and software services. It offers e-waste recycling and management services, such as repair, refurbish and reuse of all electronic and electrical equipment; waste management at source; recycling of all collected e-waste (zero landfill), and Web-based trading, services and accessibility.

On Monday, Cerebra hit intraday high of Rs. 70 per share and intraday low of Rs. 66 per share on the BSE. The 52-week high recorded was Rs. 73 and 52-week low was Rs. 35 per share on the BSE.

At 10:33 hours, the share was quoting Rs. 70.05, up by 4.87 per cent. The BSE Sensex was trading at 37,324 level, down by 0.047 per cent while Nifty50 was trading at 11,267 level, down by 0.10 per cent.

Source : DALAL Street Investment Journal

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