Antony Waste Handling Cell share price spiked 10 percent in the morning session on December 13 after its subsidiary, AG Enviro Infra Projects, received a letter of intent (LoI) from city - Sadar Paharganj Zone of North Delhi Municipal Corporation.
The letter of intent is for door-to-door collection and transportation (C&T) of municipal solid waste to disposal site and operation and maintenance of equipment/machineries from the Sadar Paharganj Zone of North Delhi Municipal Corporation (NDMC), the company said in an exchange filing.
"AG ENVIRO has been associated with NDMC for the last 16 years in the business of Municipal Solid Waste Management. This contract is for a period of ten years for the collection and transportation of ~ 1,000 TPD," the company said.
The contract has a dual revenue model in the form of user fee collection along with C&T project revenue. The user fee collection will be shared between NDMC and AG Enviro in the ratio of 85:15, respectively.
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The stock was trading at Rs 322.10, up Rs 28.45, or 9.69 percent at 09:39 hours. It touched an intraday high of Rs 338.00 and an intraday low of Rs 318.40.
The scrip was trading with volumes of 27,415 shares, compared to its five day average of 13,060 shares, an increase of 109.91 percent.
Antony Waste Handling Cell limited provides full spectrum of MSW services which includes solid waste collection, transportation, processing, and disposal services across India, majorly catering to municipalities. It is also associated in landfill construction and management sector with in-house expertise for the construction and management of landfills.
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