Navi Mumbai Municipal Corporation Awards 900 Crore Order To Antony Waster Handling Cell; Shares Zoom Almost 9% On NSE

Navi Mumbai Municipal Corporation Awards 900 Crore Order To Antony Waster Handling Cell; Shares Zoom Almost 9% On NSE

Through collaboration with NMMC, AG Enviro Infra Projects, a wholly owned subsidiary of Antony Waste Handling Cell, has successfully obtained a Rs 908 crore contract.

Vikrant DUpdated: Monday, October 07, 2024, 10:03 AM IST
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The shares of Antony Waste Handling Cell surged almost 9 per cent on the National Stock Exchange. The stock surged on the bourses after the company's subsidiary won an order worth Rs 908 crore from Navi Mumbai Municipal Corporation.

The stock saw an opening at Rs 744.95 per share on the stock exchanges; the share went on to touch the day high level of Rs 761.85 per share. The Antony Waste Handling Cell has touched a 52-week high level of Rs 902.00 per share recorded on July 26, 2024.

The stock was trading at Rs 745.00 per share on the National Stock Exchange, with a substantial gain of over 6.58 per cent on the stock exchanges.

The stock price has risen by 38.31 per cent over the last half-year and an astounding 86.1 per cent over the last year.

The contract from NMMC

Through collaboration with NMMC, AG Enviro Infra Projects, a wholly owned subsidiary of Antony Waste Handling Cell, has successfully obtained a Rs 908 crore contract for the door-to-door collection and transportation (C&T) of municipal solid waste (MSW) in Navi Mumbai. A concession period of nine years is covered by the contract.

Company financials

Antony Waste Handling boasts a market capitalization of approximately Rs. 1,984 crore. The company's revenue for the fiscal year 2023-2024 reached Rs. 872.9 crore, marking a 2 per cent increase from the previous year.

The profit after tax (PAT) saw a notable rise of 18 per cent, amounting to Rs. 99.9 crore, further solidifying the company's financial stability and growth trajectory.

About company

Municipal solid waste management is the area of expertise for Antony Waste Handling Cell Ltd. The business offers all-inclusive services that cover garbage disposal, processing, transportation, and segregation. Furthermore, Antony Waste is actively involved in a number of waste-to-energy initiatives, which puts it in a strong position within the expanding environmental sustainability industry.

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