Skip to content
Economy Watch: Market Movers Today — Investing Made Easy with Economy Watcher — Understand the Economy's Pulse — Understanding the Economy

Atlantaa Shares Surge 20% on Rs 2,485 Crore Sub-Contract Win

Atlantaa's new sub-contract could transform regional connectivity. Shareholders cheer the Rs 2,485 crore deal.

,   and  Administrator
1 min read
In this image there are vehicles parked on the road. Behind them there is a railing on the walkway....
In this image there are vehicles parked on the road. Behind them there is a railing on the walkway. Beside the walkway there is a wall of a house. In the center there is a gate to the wall. There are boards on the wall. In the background there are buildings and trees.

Atlantaa Shares Surge 20% on Rs 2,485 Crore Sub-Contract Win

Atlantaa Ltd's shares have soared 20%, closing at Rs 46.38 on NSE, following the announcement of a significant sub-contract agreement with IRCON International Ltd. The deal involves the construction of a 34.786 km stretch of the Bhandara-Gadchiroli Access Controlled Expressway, from Sarandi Bk in Bhandara district to Kinhi in Chandrapur district, Maharashtra.

The total value of the sub-contract stands at Rs 2,485 crore, inclusive of applicable GST. Notably, IRCON International Ltd, the main contractor executing the project on an EPC basis, will also be responsible for this sub-contract. Atlantaa Ltd has clarified that the agreement is contingent upon IRCON receiving the final award from the Maharashtra State Road Development Corporation (MSRDC). The project, once completed, will significantly enhance connectivity between the two districts.

Atlantaa Ltd's sub-contract agreement with IRCON International Ltd for the Bhandara-Gadchiroli Access Controlled Expressway project has boosted the company's shares. The project, covering a substantial stretch, is expected to contribute significantly to the region's infrastructure development.

Read also:

Related

Latest