Urban Enviro Waste Management share price jumped over 9% in early trade on Monday, breaking its three-session losing streak, after the company announced receipt of a work order. The SME stock surged as much as 9.56% to Rs 128.85 apiece on the NSE.
The equity shares of the waste handling firm have fallen in seven out of the past eight sessions.
Urban Enviro Waste Management announced that it has received a work order from Akola Municipal Corporation for door-to-door collection and transportation of Municipal Solid Waste upto the designated processing or disposal site at Bhod.
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The period of the order is five years and extendable upto two years. The total size of work order for five years is Rs 219.09 crore, the company said in a regulatory filing on September 4.
The time period by which the contract is to be executed is within 15 days from the date of issue of Work Order.
Urban Enviro Waste Management Share Price Performance
Urban Enviro Waste Management share price has fallen over 12% in one month and has declined 4% in three months. The SME stock has dropped 20% in one year and has plunged 44% in two years. However, over the past three years, Urban Enviro Waste Management stock price has jumped 78%.
At 9:55 AM, Urban Enviro Waste Management share price was trading 8.84% higher at Rs 128.00 apiece on the NSE.
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