Budget 2024: Antony Waste, EMS shares hit record highs post Sitharaman's speech; here's why

Shares of Antony Waste Handling Cell, VA Tech Wabag and EMS Ltd gained up to 17% on Tuesday after FM Nirmala Sitharaman in her Budget 2024 speech said the government would promote water supply, sewage treatment and solid waste management projects and services for 100 large cities. 

Sitharaman also said these projects will also envisage use of treated water for irrigation and filling up of tanks in nearby areas.

Antony Waste Handling Cell stock rose 4.72% to its record high of Rs 702 against the previous close of Rs 670.35 on BSE. Market cap of the firm climbed to Rs 1968 crore. Later, the stock ended 3.45% higher at Rs 693.45. 

Similarly, stock of EMS Ltd, a waste management firm, climbed 17.35% to a record high of Rs 790. Market cap of the firm climbed to Rs 4267.82 crore. Later, the stock ended 14.17% higher at Rs 768.55. 

Stock of water supply and management firm VA Tech Wabag climbed up to 6.10% to Rs  1317.40 against the previous close of Rs 1241.60. Later, the stock ended 3.75% higher at Rs 1288.15 on BSE. 

"In partnership with state governments and multilateral development banks we will promote water supply, sewage treatment and solid waste management projects and services for 100 large cities through bankable projects," she said during her seventh Budget speech. 

Antony Waste Handling Cell is engaged in the business of mechanical power sweeping of roads and collection and transportation of waste.

Va Tech Wabag is engaged into the water treatment field. The company’s principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

EMS specializes in providing turnkey services in water and wastewater collection, treatment and disposal. EMS provides complete, single-source services from engineering and design to construction and installation of water, wastewater and domestic waste treatment facilities.