Shares of Antony Waste Handling Cell Ltd. rallied by almost 17% to touch a day’s high of Rs 829 on 24 July, marking the third consecutive session of this robust rally. Shares rose 3% on Tuesday and 14% on Monday.

The stock surged after Budget 2024, driven by Finance Minister Nirmala Sitharaman’s announcements. The government will promote water supply, sewage treatment, and solid waste management projects in 100 large cities.

These projects will be supported by the central government, states, and multilateral development banks through bankable initiatives and will include using treated water for irrigation and filling tanks in nearby areas.

The company provides collection, road sweeping, debris processing, and waste management services.
For the June quarter, the company’s core revenue grew by 11%, driven by strong performance in collection and disposal and ramp-up at the Pune waste-to-energy plant.

Compost sales increased to about 6,000 tonnes, up from 2,800 tonnes last year.

The growth was supported by improvements in core business areas and increased compost production.

The company plans to launch a Construction and Debris processing project in Mumbai and maintain operations at other sites.

The company went public in 2021 with an IPO price of Rs 315 per share. The stock has more than doubled in value since its IPO.

At 3:30 PM, the shares of Antony Waste closed 13.94% higher at Rs 790.10 on BSE.

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