Antony Waste Handling Cell share price rises 19% after arm secures ₹1330 crore JV order

Shares of Antony Waste Handling Cell Limited, one of the leading players in the Indian municipal solid waste management industry, rose sharply in Thursday’s early trade session on December 18, even as the Indian stock market continued to drift lower for the fourth straight session.

The shares began the session sharply higher at ₹460 per share and went on to touch ₹518.40, a sharp 19% increase from the previous close, which also pushed the stock’s month-to-date returns to 10% and contributed to a sharp cut in yearly losses to 18%.

What led to the sharp rise in Antony Waste Handling Cell’s share price?

The rally followed after the company announced a significant order win. In a post-market filing on Wednesday, the company said that its material subsidiary, AG Enviro Infra Projects Private Limited, has won two large-scale collection and transportation contracts.

The contracts were awarded by the Brihanmumbai Municipal Corporation (BMC) to a consortium/joint venture comprising AG Enviro Infra Projects Private Limited, holding a majority stake of 51%, while Jigar Transport Company and MK Enterprises hold 29% and 20%, respectively.

The combined value of these contracts are worth ₹1,330 crore, with the two contracts individually valued at ₹684 crore and ₹646 crore, providing stable long-term revenue visibility over a seven-year tenure.

Under the terms of the contracts, the joint venture will manage the collection and transportation of approximately 1,250 metric tonnes per day (MTPD) of municipal solid waste across key Mumbai wards.

During the September quarter, another key subsidiary of the company, Antony Lara Enviro Solutions Private Limited, secured two major waste-to-energy (WtE) projects of 15 MW each in Andhra Pradesh, awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh, the company said in its earnings filing.

These projects will strengthen Mumbai’s municipal waste infrastructure, improve service reliability, and ensure timely transportation of waste to designated landfill sites, as per the company.

Antony Waste Handling Cell share price history

Although the stock recovered sharply in today’s session, it is still down 40% from its peak of ₹902 per share, recorded in July 2024. The shares have come under pressure since May 2025, having closed four of the following five months in the red, losing 36% of their value.

In terms of yearly performance, the stock is down 18% in 2025 so far, a sharp reversal from a 27% gain in 2024 and a 58% rally in 2023.

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