MSTC Ltd's share price surged by 17% in intraday trading after the Union Cabinet approved a vehicle scrappage incentive scheme aimed at reducing air pollution in the Delhi-NCR area. The stock opened at ₹449 and reached a high of ₹523.75, significantly outperforming the broader market, which remained largely flat. The scheme encourages owners of older trucks and buses, specifically those registered under BS-IV or earlier emission norms, to replace them with vehicles that comply with BS-VI standards or electric vehicles (EVs). This initiative is expected to benefit around 2.07 lakh vehicle owners across Delhi, Haryana, Rajasthan, and Uttar Pradesh, including approximately 1.91 lakh trucks and 16,329 buses. The total outlay for the scheme is ₹9,585 crore, with ₹5,041 crore funded by the Central government and an estimated ₹1,601 crore in tax concessions from state governments. MSTC Ltd, a Miniratna Category - I public sector undertaking under the Ministry of Steel, plays a crucial role in the recycling sector by auctioning end-of-life vehicles and scrap.