Atlantaa Limited enters into agreement with IRCON International Ltd for new project

Atlantaa Limited ("the Company") has entered into an agreement with IRCON International Limited (IRCON), for undertaking the contract pertaining to construction of "Bhandara - Gadchiroli Access Controlled Expressway in the State of Maharashtra on EPC Mode - PACKAGE BG-03 from km 34+750 Sarandi Bk, Tq. Lakhandur, Dist. Bhandara to km 69+536 Kinhi, Tq. Bramhapuri, Dist. Chandrapur (Total Length - 34.786 km)" invited by Maharashtra State Road Development Corporation (MSRDC)

Total value of the sub-contract is 2,485 Crores (Rupees Two Thousand Four Hundred Eighty-Five Crores only) plus applicable GST.

It is to be noted that IRCON had submitted the Bid (RFP application) for the subject contract through legal and proper channels abiding all the terms and conditions of the tender 1ssued' by MSRDC. M/s IRCON has been declared L-1 for the subject package.

The above Agreement is entered between the company and IRCON in anticipation of the award of the said project by Maharashtra State Road Development Corporation (MSRDC) to IRCON.

The Company will make further disclosures, as may be required, upon the award of the project to IRCON by MSRDC.

Shares of Atlantaa Limited was last trading in BSE at Rs. 38.87 as compared to the previous close of Rs. 38.48. The total number of shares traded during the day was 2986 in over 60 trades.

The stock hit an intraday high of Rs. 38.87 and intraday low of 38.21. The net turnover during the day was Rs. 114436.00.

Source : Equity Bulls

Keywords

Atlantaa INE285H01022 Agreement IRCONInternational