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What is the story about?
Shares of Antony Waste Handling Cell Ltd. gained nearly 19% on Thursday, December 18, after the company's subsidiary won two contracts, collectively worth ₹1,330 crore, from the Brihanmumbai Municipal Corporation (BMC), to collect and transport around 1,250 metric tonne municipal solid waste (MSW) per day in Mumbai.
The contracts — awarded to the joint venture of Antony Waste's subsidiary AG Enviro Infra Projects Pvt Ltd. with Jigar Transport Company and MK Enterprises — are for the collection and transportation of around 650 MT municipal solid waste (MSW) per day from wards A, B, C and D of Mumbai City, of around 600 MT per day from wards N, S and T.
The first contract is for ₹684 crore while the second one is for ₹646 crore. Both contracts are for seven years.
The joint venture is to collect and transport the MSW to the landfill site by providing owned new vehicles.
"The seven-year contracts enhance revenue visibility, support our strategy of building a resilient management portfolio, and further strengthen our ability to deliver sustainable growth and long-term value for our stakeholders," Jose Jacob, the chairman and managing director of Antony Waste Handling Cell Ltd., said.
Shares of Antony Waste are gaining on strong volumes in today's session. The stock has gained in six out of the last eight trading sessions. Volumes in today's session are already the highest since September 2021. As of 11 AM, over 80 lakh shares were traded on the stock, compared to its 20-day average of 18,000 shares.
On the charts, the stock has broken above its 50-Day Moving Average for the first time in five months. From the July 2024 peak of ₹902, the stock is still down 43%.
Antony Waste Handling Cell shares gained 19% to hit an intraday high of ₹518.4 apiece on Thursday. The stock is currently trading 15.3% higher at ₹502.1.
Also Read: Lodha stock may jump 77%, Motilal Oswal projects but with key risks
The contracts — awarded to the joint venture of Antony Waste's subsidiary AG Enviro Infra Projects Pvt Ltd. with Jigar Transport Company and MK Enterprises — are for the collection and transportation of around 650 MT municipal solid waste (MSW) per day from wards A, B, C and D of Mumbai City, of around 600 MT per day from wards N, S and T.
The first contract is for ₹684 crore while the second one is for ₹646 crore. Both contracts are for seven years.
The joint venture is to collect and transport the MSW to the landfill site by providing owned new vehicles.
"The seven-year contracts enhance revenue visibility, support our strategy of building a resilient management portfolio, and further strengthen our ability to deliver sustainable growth and long-term value for our stakeholders," Jose Jacob, the chairman and managing director of Antony Waste Handling Cell Ltd., said.
Shares of Antony Waste are gaining on strong volumes in today's session. The stock has gained in six out of the last eight trading sessions. Volumes in today's session are already the highest since September 2021. As of 11 AM, over 80 lakh shares were traded on the stock, compared to its 20-day average of 18,000 shares.
On the charts, the stock has broken above its 50-Day Moving Average for the first time in five months. From the July 2024 peak of ₹902, the stock is still down 43%.
Antony Waste Handling Cell shares gained 19% to hit an intraday high of ₹518.4 apiece on Thursday. The stock is currently trading 15.3% higher at ₹502.1.
Also Read: Lodha stock may jump 77%, Motilal Oswal projects but with key risks
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