Synopsis: Shares of this waste management stock fell 4% after a landfill collapse triggered by heavy rainfall at its Pune Waste-to-Energy plant killed nine employees. The company has suspended plant operations while safety assessments and investigations are underway.
The shares of this company, an integrated municipal solid waste management company engaged in waste collection and transportation, road sweeping, waste-to-energy power generation, and etc are in the spotlight after it fell by 4 per cent in today’s session following the confirmation that nine employees lost their lives after a natural calamity at a landfill adjacent to its Waste-to-Energy (WtE) plant.
With a market capitalisation of Rs. 1,307 cr, the shares of Antony Waste Handling Cell Ltd were trading at Rs. 460.80 per share, declining by 4% in today’s market session, making a low of Rs. 449.15, down from its previous close of Rs. 467 per share. The stock has delivered a negative return of 29% over the past year. It is also down 5% year-to-date, 1% over the last six months, and 2% in the past month.
What’s the News
Antony Waste Handling Cell Ltd has confirmed that nine employees lost their lives after a natural calamity at a landfill adjacent to its Waste-to-Energy (WtE) plant. Following incessant rainfall, thousands of tonnes of waste from a landfill located outside the facility collapsed onto the plant site, severely damaging the administrative building where 23 employees were present. Fourteen employees were rescued and are currently receiving medical treatment and counselling.
The company stated that it will bear all medical and counselling expenses for the injured employees and provide financial assistance of Rs. 25 lakh to each bereaved family through ex gratia support, insurance, and statutory welfare benefits. It will also cover funeral expenses, offer employment to an eligible immediate family member of each deceased employee, and fund the education of their minor children. Dedicated company representatives have also been assigned to assist the affected families with documentation, insurance claims, and other formalities.
As a precautionary measure, operations at the Waste-to-Energy plant have been temporarily suspended while structural and safety assessments are conducted. However, the company’s municipal waste collection and transportation services continue to operate normally.
Antony Waste added that its assets and operations are adequately insured, while the financial impact of the incident is still being assessed and will be disclosed once determined. The company said it is fully cooperating with authorities and will continue to provide updates on any material developments.
Antony Waste Handling Cell Ltd is one of India’s leading integrated municipal solid waste (MSW) management companies. It provides end-to-end waste management services, including municipal waste collection and transportation, processing, recycling, waste-to-energy (WtE) power generation, and scientific landfill management.
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