Shares of animal food manufacturer Mukka Proteins Ltd. witnessed a sharp rally in early trading on Thursday, hitting the 20% upper circuit limit. This dramatic surge was triggered by the company's announcement of receiving a major work order valued at over ₹474 crore.
A Major Contract Win Fuels Investor Frenzy
The small-cap stock skyrocketed to ₹30.25 per share on the BSE following the news. The company disclosed that its joint venture with Hardik Gowda and MS Jathin Infra Private Limited has been awarded a substantial work order from Bengaluru Solid Waste Management Limited (BSWML). The order is worth ₹474.89 crore, exclusive of GST.
Dated 3 December 2025, the contract pertains to the critical environmental task of treatment and disposal of legacy leachate. This accumulated waste is located at the Mittaganahalli and Kannur landfill sites in Bengaluru. The company has a window of four years to execute the project, or until the complete treatment and disposal of the leachate is achieved, whichever comes first.
Stock Performance: A Volatile Journey
The massive order news provided a significant boost to Mukka Proteins share price, which has seen mixed performance over different time frames. While the stock has gained 12% in the last one month, its three-month trajectory has been largely flat. Looking at a broader horizon, the scrip has faced pressure, declining 10% over six months and registering a substantial drop of 33% over the past year.
The stock's 52-week price band highlights this volatility. It touched a peak of ₹43.50 per share on 31 December 2024, only to fall to a low of ₹23.87 on 10 November 2025. By late morning on Thursday, the share price was trading at ₹28.07, up 11.34%, giving the company a market capitalisation of approximately ₹842.10 crore.
Strategic Diversification and Market Impact
This contract marks a significant strategic move for Mukka Proteins, traditionally known as an animal food manufacturing company. Venturing into the large-scale waste management and environmental services sector through a joint venture represents a notable diversification. The deal with a government-associated entity like BSWML also adds a layer of credibility and points to stable revenue visibility for the next four years.
Investors reacted overwhelmingly positively to this development, seeing it as a potential game-changer for the company's growth prospects and financial health. The order's size, nearly half a billion rupees, is substantial relative to the company's market valuation, explaining the intense buying interest that locked the stock at the upper circuit limit.
