The Company has entered into Agreement for construction of Expressway Project. The Value of the Project is Rs. 2485 Crore, plus applicable GST.
ATLANTAA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 19.7 pts more than Nifty Microcap 250 and 19.0 pts more than its Road Assets - Toll Annuity Hybrid-Annuity peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Atlanta Limited has signed a sub-contract with IRCON International Limited for the construction of the Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra on EPC mode. The project, covering 34.786 km (Package BG-03), was tendered by Maharashtra State Road Development Corporation (MSRDC), and IRCON has been declared the lowest bidder (L-1). The total value of the sub-contract is Rs. 2,485 Crore plus applicable GST. The agreement is entered in anticipation of MSRDC formally awarding the project to IRCON. Further disclosures will follow once the award is confirmed.
This is a substantial order win for Atlanta Limited that could significantly boost its order book and future revenue, likely to be positively received by the market. Investors should note that the agreement is contingent on MSRDC's final award to IRCON.