Atlanta rose 3.24% to Rs 81.30 at 10:00 IST on BSE after the company said that it has been declared as a preferred bidder for six laning of a section of national highway in Gujarat.
The announcement was made after market hours yesterday, 11 January 2017.Meanwhile, the BSE Sensex was up 39.33 points, or 0.14%, to 27,179.74.
On the BSE, 1.97 lakh shares were traded in the counter so far, compared with an average volume of 1.37 lakh shares in the past one quarter. The stock had hit a high of Rs 83.50 and a low of Rs 79.40 so far during the day. The stock had hit a 52-week high of Rs 84.15 on 24 October 2016. The stock had hit a 52-week low of Rs 27.30 on 12 February 2016.
The stock had outperformed the market over the past one month till 11 January 2017, rising 14.71% compared with the Sensex 1.47% gains. The scrip had also outperformed the market in past one quarter, rising 9.83% as against Sensex's 3.35% decline.
The small-cap company has an equity capital of Rs 16.30 crore. Face value per share is Rs 2.
Atlanta said that it has been declared as a preferred bidder by the National Highways Authority of India (NHAI) for six laning of a section of national highway (NH)-8 in Gujarat under National Highways Development Project (NHDP) Phase V (Package-VI) on hybrid annuity mode. The total cost of the project is Rs 1292 crore.
The company will form a special purpose vehicle (SPV) for the implementation of the project.
Net profit of Atlanta jumped 1481.3% to Rs 12.57 crore on 53.3% rise in net sales to Rs 41.15 crore in Q2 September 2016 over Q2 September 2015.
Atlanta is engaged in the business of infrastructure development.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
