This SmallCap share affects 20% upper circuit for the 2nd session after packing mega ordering

Shares of Atlantaa Ltd rose 20% to hit the higher circuit on RS 55.65 on the NSE on Wednesday 3 October, after the small CAP company had conquered a huge RS 2,485 crore order from Ircon than five times its market capitalization of only RS 450 Crore. The stock has hit an upper circuit for a second session in a row.

On September 30, Atlantaa informed the stock markets that it had concluded an agreement with Ircon International to fulfill the contract for the construction of the Bhandara-Gadchiroli Access Contressway 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 by legal conditions and was declared L-1 for the package, the company said in a legal submission.

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Atlantaa is involved in a wide range of activities, including infrastructure development, such as the construction of roads, motorways, bridges and runways. The company carries out Engineering, Procurement and Construction (EPC) contracts and participates in PPP projects for Public-Private Partnership (PPP) on Build-Operate transfer (BOT) and the design-finance operational transfer (DBFOT) models.

It is also involved in projects for hybrid annuity (HAM) projects, operation and maintenance transfer) and is present in the development of real estate, tourism and hospitality, together with surface line of limestone and coal. Volumes were strong because more than 41 Lakh shares changed ownership. This is considerably 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 stock rally 50-155% in 1 year

According to the latest shareholder pattern on the BSE, promoters have a 74.67% interest in the company, while retail shareholders take into account the remaining interest of 25.33%. No investment funds have been exposed to the company, data showed.

Atlantaa is a Multibagger shares, which has been increasing by more than 700% in the last 5 years.

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