Multibagger from its 52-week low: This small-cap company bags massive orders worth Rs 78.24 crore from ONGC!
Shares of the company grew by more than 65 per cent in the last six months.
On 19th June 2023, Asian Energy Services Limited informed in the exchange filing that it has received LOA from ONGC for 3D Seismic Data Acquisition services in Gujarat. The value of LOA is INR 78.24 crores. The contract duration is 11 months.
Earlier, the company had received a letter of award from Svetah Energy Infrastructure FZE, UAE for the operations and maintenance works of the floating production storage and offloading system named Svetah Venetia, to be deployed for the production of oil and gas in the offshore area of contract area, located near Puducherry, on the east coast of India. The estimated value is around USD 20 million (Rs 165 crore converted at today’s exchange rate).
Asian Energy Services Limited is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation and maintenance services for oilfields.
Today, the stock opened at Rs 124.35, with a high and low of Rs 131.80 and Rs 123.00. The stock previously closed at Rs 126.15. The stock closed trading at Rs 129.55, up by 2.70 per cent.
The stock has a 52-week high of Rs 131.80 and a 52-week low of Rs 51.76. The company has a market capitalisation of Rs 493.25 crore. The stock has delivered multibagger returns of over 150 per cent and investors should keep a close eye on this stock.
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