Atlanta jumps after bagging NHAI order

Atlanta rose 6.67% to Rs 65.60 at 9:29 IST on BSE after the company said it secured road maintenance order from National Highways Authority of India.

The company made the announcement during trading hours today, 16 July 2014.

Meanwhile, the BSE Sensex was up 98.05 points, or 0.39%, to 25,326.70.

On BSE, so far 1.07 lakh shares were traded in the counter, compared with an average volume of 2.08 lakh shares in the past one quarter.

The stock hit a high of Rs 66.50 and a low of Rs 61.90 so far during the day. The stock hit a 52-week high of Rs 73.15 on 2 July 2014. The stock hit a 52-week low of Rs 24.55 on 23 August 2013.

The stock had outperformed the market over the past one month till 15 July 2014, rising 1.49% compared with the Sensex being flat in the same period. The scrip had also outperformed the market in past one quarter, rising 46.25% as against Sensex's 12.20% rise.

The small-cap company has an equity capital of Rs 16.30 crore. Face value per share is Rs 2.

Atlanta said the project is for the operation and maintenance of a four lane Highway Guwahati Bypass - Nagaon - Daboka - Udauli Section of national highway (NH)-37, 36 and 54/54E from Guwahati bypass with the total length of 205.16 kilometre (km) Operation, Maintenance and Transfer basis in Assam.

The project has concession period of 9 years. Atlanta is forming a special purpose vehicle to undertake the said project. Financial details of the order were not disclosed.

With the award of this project, Atlanta said it has 1603 km of single lane width under operation/development out of which 1135 km single lane width road will be operational during the current fiscal.

Atlanta said it presently has five projects on design - build - finance - operate - transfer (DBFOT) basis.

Net profit of Atlanta rose 1376.34% to Rs 27.46 crore on 71.21% rise in net sales to Rs 134.79 crore in Q4 March 2014 over Q4 March 2013.

Atlanta is engaged in the business of infrastructure development.

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