Alphageo bags order for seismic data acquisition

The shares of Alphageo India were trading in green in the early trading session on Thursday after the company announced that it had bagged Rs 76.67 crore order from Oil India.

The company had acquired Notification of Award (NOA) for 2D and 3D seismic data acquisition and processing in Open Acreage Licensing Policy (OALP) areas of Mahanadi Basin (Odisha). 

The total orders on hand for the quarter ended December 2019 was reported at Rs 160 crore. Since then, the company has acquired orders worth Rs 501.24 crore.  

Earlier this month, the company had announced an interim dividend of Rs 8 each per equity share of Rs 10 for the financial year 2019-20, which is 80 per cent on the nominal value of the equity share.

Alphageo (India) Limited is a seismic survey service provider and is engaged in seismic survey data acquisition, processing and interpretation services. It provides two-dimensional (2D) and three-dimensional (3D) seismic data acquisition, processing and interpretation services for oil exploration and production entities. 

At 9.20 am on Thursday, the stock was trading at Rs 147.55, up by 7.03 per cent or Rs 9.7 per share. The 52-week high is recorded at Rs 720.10 and the 52-week low is Rs 120.50 on BSE.