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What is the story about?
Shares of Atlantaa Ltd. are locked in a 20% upper circuit for the second day running, after the company announced an order win from IRCON International, the value of which is significantly higher than its overall market capitalisation.
On September 30, Atlantaa had informed the exchanges that it has entered into an agreement with IRCON International to undertake the contract for the construction of Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra on an EPC mode.
The order is for package BG-03 from Sarandi in the Bhandara district to Kinhi in the Chandrapur district. The bids were invited by the Maharashtra State Road Development Corporation (MSRDC). The total value of the contract is ₹2,485 crore.
IRCON had submitted the bid for the subject contract through legal terms and IRCON was declared L-1 for the package.
This is the fourth straight instance of the stock being locked in a 20% upper circuit since September 1.
The total order value of the IRCON deal is nearly 6x of Atlantaa's total market capitalization of ₹456 crore.
Over 40 lakh shares of Atlantaa changed hands before the circuit limit was hit on Friday, which is well above the 20-day average of 3.4 lakh shares at this time of the day.
With this two-day upmove, the stock has turned positive on a year-to-date basis. The stock had doubled in 2024, gaining 101%.
Promoters of Atlantaa Ltd. have a 74.67% stake in the company at the end of the June quarter. No Mutual Funds have an exposure to this stock, while small retail investors, or those with authorized share capital of up to ₹2 lakh, have a 13.17% stake.
Shares of Atlantaa are trading at ₹55.96, after this 20% upper circuit.
On September 30, Atlantaa had informed the exchanges that it has entered into an agreement with IRCON International to undertake the contract for the construction of Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra on an EPC mode.
The order is for package BG-03 from Sarandi in the Bhandara district to Kinhi in the Chandrapur district. The bids were invited by the Maharashtra State Road Development Corporation (MSRDC). The total value of the contract is ₹2,485 crore.
IRCON had submitted the bid for the subject contract through legal terms and IRCON was declared L-1 for the package.
This is the fourth straight instance of the stock being locked in a 20% upper circuit since September 1.
The total order value of the IRCON deal is nearly 6x of Atlantaa's total market capitalization of ₹456 crore.
Over 40 lakh shares of Atlantaa changed hands before the circuit limit was hit on Friday, which is well above the 20-day average of 3.4 lakh shares at this time of the day.
With this two-day upmove, the stock has turned positive on a year-to-date basis. The stock had doubled in 2024, gaining 101%.
Promoters of Atlantaa Ltd. have a 74.67% stake in the company at the end of the June quarter. No Mutual Funds have an exposure to this stock, while small retail investors, or those with authorized share capital of up to ₹2 lakh, have a 13.17% stake.
Shares of Atlantaa are trading at ₹55.96, after this 20% upper circuit.
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