Announced Mon, 20 Jul · 12:27 IST
Eco Recycling forms 50:50 JV with US-based ERI for IT asset recycling
Price
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Price reaction · full curve 14 horizons · vs prior close
+2.8%1-day move
₹495.00
prior close
₹496.95
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.6+0.6+0.6+0.2+2.8+1.6-0.6+4.1+1.4—————
Up moveDown movePending
AI summary
Eco Recycling's board approved forming a 50:50 Joint Venture with Electronic Recyclers International Inc. (ERI), USA. The new JV will focus on IT Asset Disposition (ITAD), enterprise recycling, circular economy solutions, resource recovery, and secure data destruction in India. Both partners will hold equal equity and appoint 2 directors each on a 4-member board. The Shareholders Agreement and Operating Agreement have been finalized, pending statutory approvals.
Likely market impact
Strategic entry into high-growth IT asset disposition and circular economy segment with a US partner; could drive long-term revenue growth.