Heavy Buying & Upper Circuit Alert: Debt-free company bags new orders worth Rs 118,63,00,000 from Oil & Natural Gas Corporation Ltd
The stock is up by 65 per cent from its 52-week low of Rs 272.85 per share.
On Monday, one of the Top Gainers on BSE & NSE, shares of Alphageo (India) Limited hit a 20 per cent upper circuit to Rs 449.90 per share from its previous closing of Rs 374.95 per share with 10 times spurt in volume. The stock’s 52-week high is Rs 522.15 per share and its 52-week low is Rs 272.85 per share.
Alphageo (India) Limited has secured two substantial contracts from Oil and Natural Gas Corporation Limited (ONGC) for 2D Seismic Data Acquisition. The first contract, for Sector 1 in Chhattisgarh, is valued at Rs. 38.29 crore and is slated for completion by January 2026. The second, larger contract, for Sector 3A in Krishna-Godavari, is valued at Rs. 80.34 crore and is expected to be finished by May 2026. Both domestic contracts highlight Alphageo's growing presence in the Indian market. These contracts underscore the company's expertise in seismic data acquisition and its ability to deliver complex projects within tight timelines.
About the Company
Alphageo (India) Ltd, established in 1987, has carved a niche in the geophysical industry by offering comprehensive seismic data acquisition, processing and interpretation services. The company caters to the exploration needs of hydrocarbons and minerals, playing a pivotal role in discovering new resources. With a strong focus on quality and innovation, Alphageo has consistently delivered reliable and accurate client results.
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The company's business operations encompass a wide range of services, including seismic survey design and preplanning, data acquisition in 2D and 3D formats, data processing and reprocessing, seismic data interpretation, prospect evaluation, reservoir data analysis, and topographic surveys. Alphageo's expertise extends to various aspects of the geophysical exploration process, ensuring that clients receive a holistic and efficient solution.
Alphageo has garnered a strong reputation in the industry and has a diverse clientele that includes major players such as Istech Resources Asia, Petronas Carigali, BPRL, GAIL, ONGC, OIL, Hardy Exploration & Production, Gujarat State Petroleum Corp, Hindustan Oil Exploration Company, Essar Oil, and many others. The company's ability to deliver high-quality services and meet the specific requirements of its clients has been instrumental in its success.
The company has a market cap of Rs 286 crore as of September 2024, it is debt-free. The stock is up by 65 per cent from its 52-week low of Rs 272.85 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.