This smallcap stock hits 20% upper circuit for 2nd session after bagging mega order – News Air Insight

Shares of Atlantaa Ltd soared 20% to hit the upper circuit at Rs 55.65 on the NSE on Wednesday, October 3, after the small-cap company clinched a massive Rs 2,485 crore order from IRCON — over five times its market capitalization of just Rs 450 crore. The stock has hit an upper circuit for a second session in a row.

On September 30, Atlantaa informed the exchanges that it had entered into an agreement with IRCON International to undertake the contract for the construction of the 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). IRCON had submitted the bid for the subject contract through legal terms, and was declared L-1 for the package, the company said in a regulatory filing.

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Atlantaa is engaged in a wide range of activities, including infrastructure development such as the construction of roads, highways, bridges, and runways. The company undertakes engineering, procurement, and construction (EPC) contracts and participates in public-private partnership (PPP) projects on Build-Operate-Transfer (BOT) as well as Design-Build-Finance-Operate-Transfer (DBFOT) models.

It is also involved in Hybrid Annuity Mode (HAM) projects, operation and maintenance transfer (OMT) projects, and has a presence in real estate development, tourism and hospitality, along with surface mining of limestone and coal.Volumes were strong today, as more than 41 lakh shares changed hands. This is significantly higher than the weekly and monthly averages of 2 lakh and 5 lakh shares, respectively.Read more: Goldman Sachs’ Rs 10,000 crore India portfolio: 4 stocks rally 50-155% in 1 year

As per the latest shareholding pattern on the BSE, promoters hold a 74.67% stake in the company, while retail shareholders account for the remaining 25.33% stake. No mutual funds have an exposure to the company, data showed.

Atlantaa is a multibagger stock, rising over 700% in the last 5 years.

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