Shares of Antony Waste Handling Cell Ltd surged 2.50% after the Bombay High Court dismissed the Navi Mumbai Municipal Corporation’s (NMMC) plea to set aside an arbitral award in favor of the company. The decision mandates the release of approximately ₹19.63 crore, including interest, which was deposited by NMMC, providing a financial boost to Antony Waste Handling Cell.
The legal dispute revolved around a contractual disagreement between the company and NMMC regarding payments for waste management services. The arbitration ruling, which has now been upheld by the Bombay High Court, reinforces Antony Waste’s contractual rights and strengthens its financial position. This positive outcome is expected to enhance investor confidence in the company and solidify its position in the waste management sector.
Antony Waste Handling Cell is a leading player in municipal solid waste management, providing collection, transportation, processing, and disposal services across multiple cities. The company specializes in sustainable waste management solutions and has contracts with various municipal corporations. With this legal hurdle cleared, Antony Waste can now focus on expanding its operations and strengthening its presence in India’s waste management industry.
