** Shares of Australia's Simonds Group SIO.AX rise as much as 3.5% to A$0.15, their highest level since November 13

** Homebuilder says it has entered into a joint venture (JV) with Atlas Building to conduct residential construction projects in Western Australia

** Perth-based Atlas Building is a commercial builder specialising in regional and metropolitan developments

** Stock up 25% YTD, including session's moves

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))