This MIT-backed waste management stock jumps 19% today; do you own?

Shares of Antony Waste Handling Cell surged as much as 19 per cent to touch a day’s high of Rs 518.40 on the BSE in Thursday’s trade, against its previous close of Rs 435.45 apiece. The counter witnessed heavy buying interest after the company announced a significant order win worth approximately Rs 1,330 crore from the Brihanmumbai Municipal Corporation (BMC).

At last check, the stock was trading 16.90 per cent higher at Rs 509.05. As per the September quarter shareholding pattern, the Massachusetts Institute of Technology (MIT) holds a significant 6.93 per cent stake, translating to 19,68,000 shares in the waste management firm.

The bullish sentiment on the street follows an exchange filing dated December 17, post-market hours, in which Antony Waste Handling Cell announced that its material subsidiary, AG Enviro Infra Projects Private Limited, has been awarded two major contracts for the collection and transportation of municipal solid waste (MSW) in Mumbai.

The total value of the two contracts stands at roughly Rs 1,330 crore for a concession period of seven years. The contracts were awarded to a consortium where AG Enviro Infra Projects holds a majority 51 per cent stake, while partners Jigar Transport Company and M. K. Enterprises hold 29 per cent and 20 per cent, respectively.

Under the terms of the agreement with the BMC, the consortium will handle the collection and transportation of approximately 1,250 metric tonnes per day (MTPD) of solid waste. The operations will cover key wards of Mumbai.

The two contracts are individually valued at approximately Rs 684 crore and Rs 646 crore. The company stated that this seven-year timeline provides stable long-term revenue visibility.

Commenting on the development, Jose Jacob, Chairman & Managing Director of Antony Waste Handling Cell Limited, said that Mumbai has always been a cornerstone geography for the group.

“We are delighted to secure these two significant Collection & Transportation contracts from the Brihanmumbai Municipal Corporation. This award reinforces our leadership in executing large-scale municipal waste operations across India’s urban markets,” Jacob said.

He further added that the win supports the company's strategy of building a resilient management portfolio and strengthens their ability to deliver sustainable growth and long-term value for our stakeholders.