Multibagger penny stock locked in 20% upper circuit after entering into an agreement worth Rs 2,485 crore with Ircon International Limited
DSIJ Intelligence-1 / 01 Oct 2025/ Categories: Multibaggers, Penny Stocks, Trending
The stock is up by 70 per cent from its 52-week low and has given multibagger returns of 600 per cent in 5 years.
On Wednesday, shares of Atlanta Ltd hit a 20 per cent Upper Circuit to Rs 46.64 per share from its previous closing of Rs 38.87 per share. The stock has a 52-week high of Rs 59.90 per share and its 52-week low of Rs 27.50 per share. The shares of the company saw a Spurt in Volume by more than 8 times.
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Atlanta Limited has entered into a significant agreement with IRCON International Limited (IRCON). This agreement is for undertaking the sub-contract for the Construction of a portion of the Bhandara - Gadchiroli Access Controlled Expressway in Maharashtra. The specific section is PACKAGE BG-03, covering a total length of 34.786 km from Sarandi Bk (Bhandara District) to Kinhi (Chandrapur District). The total value of this sub-contract is a substantial Rs 2,485 crore, plus applicable GST.
It is noted that the overall contract was invited by the Maharashtra State Road Development Corporation (MSRDC) on an EPC (Engineering, Procurement, and Construction) mode, and IRCON was declared the L-1 (Lowest Bidder) for the subject package after submitting a compliant bid. Importantly, the agreement between Atlanta Limited and IRCON was entered into in anticipation of the formal award of the entire project to IRCON by MSRDC. The Company has stated that it will make further necessary disclosures once MSRDC officially awards the project to IRCON.
About the Company
Established in 1977, Atlanta Ltd is an ISO 9001:2015 certified Indian construction company specialising in infrastructure development (roads, highways, bridges, runways) and operating under models like EPC, BOT, DBFOT and hybrid annuity mode. They also diversify their business across Real Estate, tourism, hospitality, and surface mining (limestone and coal).
As of June 2025, the promoters of the company own 74.67 per cent stake, the Government own a 0.01 per cent stake and the rest of the 25.32 per cent stake is owned by the public. The company has a market cap of Rs 380 crore. The stock is up by 70 per cent from its 52-week low and has given multibagger returns of 600 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.