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Atlantaa jumped 20% after bagging a ₹2,485 crore expressway contract from IRCON International.
Atlantaa is a small-cap infrastructure company that builds roads, highways, and bridges on engineering and construction contracts.
Note: this deal is worth nearly 6x its entire market cap of ₹456 crore.
Not stopping there: this is also fourth straight time the stock has been locked in a 20% upper circuit since September 1. The stock turned positive for the year following Friday’s sharp surge.
The deets: the order is for building part of the Bhandara–Gadchiroli Access Controlled Expressway in Maharashtra.
Atlantaa will construct the BG-03 package, covering the stretch from Sarandi in Bhandara district to Kinhi in Chandrapur.
Why IRCON chose Atlantaa: despite being a small-cap player with no mutual fund backing, Atlantaa has a track record in road construction.
With promoters holding 74.7% stake, the company runs lean and has been doubling down on infra execution. For IRCON, roping in Atlantaa means handing off the work to a focused EPC contractor while retaining its lead status.
