Shares of Antony Waste Handling Cell experienced an 8% surge in early trading on October 7 after the company announced that its subsidiary had secured a significant ₹908 crore contract from Navi Mumbai Municipal Corporation (NMMC). This major win has boosted investor sentiment, especially for those looking to invest in stocks that show steady growth potential.
AG Enviro Infra Projects, a wholly-owned subsidiary of Antony Waste Handling, successfully secured a ₹908 crore contract for the Door-to-Door Collection and Transportation (C&T) of Municipal Solid Waste (MSW) in Navi Mumbai. The contract spans nine years and strengthens the company's ongoing relationship with NMMC. For those planning to invest in stocks, this contract positions Antony Waste as a reliable player in the waste management sector.
Chairman and Managing Director Jose Jacob expressed pride in the partnership with NMMC, which has thrived for over 15 years. He emphasised how the company's solutions have consistently helped NMMC achieve top rankings in the Swachh Bharat category. For investors looking to invest in stocks, this contract not only cements Antony Waste's commitment to innovation and sustainability but also reinforces its ability to grow in the long term.
Antony Waste shares reached a 52-week high of ₹902.25 on July 26, 2024, and a low of ₹354.70 on October 26, 2023. The current stock price is trading 22.53% below its 52-week high but remains 97.05% above its 52-week low. Over the past year, the share price has jumped by 86%, making it an attractive option for those wanting to invest in stocks that have delivered solid returns.
This ₹908 crore contract win is expected to provide substantial revenue over the next nine years, positioning Antony Waste as a key player in the Indian waste management sector. Investors who aim to invest in stocks related to sustainable solutions and municipal projects may find this opportunity attractive. The company's consistent performance and ability to secure high-value contracts like this make it a promising option for long-term stock investments.
The rise in Antony Waste Handling's share price following this contract announcement is a clear indicator of the market's confidence in the company's growth trajectory. For investors seeking to invest in stocks with strong fundamentals and a clear path to future growth, Antony Waste Handling remains a compelling choice.
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