5 days ago
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.
