Atlantaa hits 52-week high on securing commencement certificate for project

Atlantaa hits 52-week high: Shares of Atlantaa hit an upper circuit of 2 per cent at Rs 52.85 per share on Wednesday, September 4, 2024. The stock also hit a fresh 52-week high.

The surge in Atlantaa share price came after the company announced that it has received Commencement Certificate for its project, Atlanta Enclave Phase 11, from Thane Municipal Corporation

In an exchange filing, Atlantaa said, “We would like to inform you that Atlantaa Limited (“the Company”) has received Commencement Certificate for its project, “Atlanta Enclave Phase 11", from Thane Municipal Corporation, pursuant to which the Company will be constructing Two residential towers of 35 Storeys (Floors) each, as one tower of 30 Storeys (Floors), approximate total RERA Sale area will be 5,04,959 square feet.”

The order requires the company to construct two residential towers of 35 Storeys (floors) each, as one tower of 30 Storeys (Floors), approximate total RERA Sale area will be 5,04,959 square feet.

Atlantaa is a prominent player in infrastructure development, specialising in the construction of roads, highways, bridges, and runways, as well as real estate development and the mining of coal and limestone. The company is engaged in Engineering, Procurement, and Construction (EPC) projects, infrastructure development under the Public-Private Partnership (PPP) model, and mining operations. Atlantaa also has a subsidiary, Balaji Tollways Ltd.

Furthermore, Atlantaa has been involved in a wide range of construction projects, including highways, airfield pavements, roads, reclamation, reinforced concrete tracks, buildings, sheds, water main laying, and sewage systems. 

These projects were awarded by various government and semi-government organisations, including the Airports Authority of India, Public Works Department, National Highways Authority of India, and Military Engineering Services.

The 52-week low of Atlantaa stock is Rs 13.30 per share. Meanwhile, the all-time high of the stock is Rs 290 per share.

The company’s market capitalisation is Rs 430.73 crore, according to Bombay Stock Exchange (BSE).

At 9:26 AM, shares of Atlantaa remained locked in 2 per cent upper circuit at Rs 52.85 per share. In comparison, BSE Sensex was trading 0.62 per cent or 510 points lower at 82,045.32 levels.