Antony Waste Handling Cell shares gain 2% on order from Panvel Municipal Corporation

Earlier in this month, the company commissioned its waste to energy power plant and commencement of commercial sale of power to PCMC (Pimpri Chinchwad Municipal Corporation).

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Antony Waste Handling Cell share price rose 2.5 percent intraday on October 26 after the company’s subsidiary bagged an order from Panvel Municipal Corporation.

At 12:32 hrs Antony Waste Handling Cell was quoting at Rs 377.60, up Rs 9.25, or 2.51 percent on the BSE.

The company’s material subsidiary, AG Enviro Infra Projects Private Limited has been awarded contract of Door-to-Door Collection and Transportation of Municipal Solid Waste by Panvel Municipal Corporation.

The total contract value is Rs 368 crore for a period of 5 years with the option for a 2-year extension.

Panvel Municipal Corporation will procure the entire infrastructure for the project, which will subsequently be entrusted to our operations. We are proud to be partners with the PMC to provide sustainable waste management services to the city, company said.

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Earlier in this month, the company commissioned its waste to energy power plant and commencement of commercial sale of power to PCMC (Pimpri Chinchwad Municipal Corporation).

In Q2FY24, the total tonnage handled stood at 1.15 million tonnes representing a robust growth of ~9% compared to the previous year, company said in its October 16 release.

The share touched a 52-week high of Rs 439.25 and a 52-week low of Rs 239.05 on 17 October, 2023 and 28 March, 2023, respectively.

Currently, the stock is trading 14.04 percent below its 52-week high and 57.96 percent above its 52-week low.