Multibagger stock edges higher despite weak trends in Indian stock market

Eco Recycling shares increased by more than 2% during Friday's trading session after the company announced plans to enhance its capacity. This includes a proactive expansion of its e-waste recycling capabilities by 18,000 MTPA, as well as the establishment of a specialised facility with a capacity of 6,000 MTPA dedicated to processing lithium-ion (Li-ion) batteries, all situated in a cutting-edge 40,000 sq. ft. facility in Vasai, close to Mumbai.

The firm indicated that it is consistent with the E-waste Management Rules, 2022, aimed at addressing the increasing generation of e-waste and the responsibilities of Producers.

The submission of Extended Producer Responsibility (EPR) obligations through the centralised EPR Portal and the implementation of Environmental Compensation (EC) measures for non-compliance are anticipated to be key factors in driving industry growth and formalising the sector.

The company mentioned in its exchange filing that notably, all investments for land, buildings, plants, and machinery have been funded through internal revenues, reinforcing Ecoreco’s status as a zero-debt entity.

This debt-free growth offers a competitive advantage by removing interest and EMI liabilities, which leads to enhanced financial stability and operational agility. These changes are anticipated to further formalise the industry and encourage sustainable recycling practices while reducing pollution linked to unregulated operations.

As the leading e-waste management firm in India, Ecoreco provides an extensive range of services within the e-waste ecosystem, including collection, logistics, recycling, data destruction, refurbishment, and complete EPR compliance. The company adheres to international best practices while catering to a prominent clientele of brands that prioritise environmental responsibility.

Eco Recycling share price today opened at ₹622 apiece on the BSE, the stock touched an intraday high of ₹634 apiece. Over the last week, the stock increased by 2.35%. It has gained 0.96% over the last three months and has decreased by 13.4% over the last year.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories