In a remarkable divergence from the broader market slump, shares of Antony Waste Handling Cell Limited witnessed a powerful rally during early trading on Thursday, December 18. The stock surged sharply, defying the downward trend that gripped the Indian equity markets for a fourth consecutive session.
A Stellar Market Performance
The company's stock opened strong at ₹460 per share, significantly higher than its previous close. The momentum continued, propelling the price to an intraday high of ₹518.40. This represented a staggering 19% gain in a single session. This impressive jump helped lift the stock's month-to-date returns to a positive 10% and substantially reduced its yearly losses to 18%.
The Catalyst: A Major Order Win
The primary driver behind this explosive rally was a significant announcement made by the company after market hours on Wednesday. Antony Waste Handling Cell revealed that its material subsidiary, AG Enviro Infra Projects Private Limited, had secured two large-scale contracts for the collection and transportation of municipal solid waste.
These prestigious contracts were awarded by the Brihanmumbai Municipal Corporation (BMC). The work will be executed by a consortium where AG Enviro Infra holds a controlling 51% stake. Partners Jigar Transport Company and MK Enterprises hold 29% and 20% stakes, respectively.
The combined value of these twin contracts is a massive ₹1,330 crore. Individually, the contracts are valued at ₹684 crore and ₹646 crore. This win provides the company with stable, long-term revenue visibility for a seven-year period.
Project Scope and Recent Wins
Under the terms of the agreement, the joint venture will be responsible for managing the collection and transportation of approximately 1,250 metric tonnes per day (MTPD) of municipal solid waste across key wards in Mumbai. The company stated that these projects will strengthen the city's waste infrastructure, enhance service reliability, and ensure timely waste disposal at designated landfill sites.
This BMC order adds to the company's recent series of successes. During the September quarter, another key subsidiary, Antony Lara Enviro Solutions Private Limited, secured two waste-to-energy (WtE) projects of 15 MW each in Andhra Pradesh. These were awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh.
Stock Performance in Perspective
Despite the day's sharp recovery, the stock's journey has been volatile. It remains down by 40% from its peak of ₹902 per share, which was recorded in July 2024. The stock faced sustained pressure beginning in May 2025, closing in the red for four out of the subsequent five months and shedding 36% of its value in that period.
Looking at the yearly performance, the stock is still down 18% for 2025 so far. This marks a stark reversal from its gains of 27% in 2024 and an impressive 58% rally in 2023. Today's surge, fueled by the major contract announcement, indicates a potential shift in investor sentiment towards the company's future prospects.
Disclaimer: Investors are advised to consult certified financial experts before making any investment decisions.
