Alphageo hits upper circuit after order win

On Thursday, Alphageo announced that it has received Notification of Award (NOA) from the Oil and Natural Gas Corporation Limited (ONGC) for two contracts worth Rs 43.23 crore and Rs 68.75 crore.

The orders received were for the acquisition of 3D seismic data through outsourcing for Bogapha Syncline area of Assam and Assam Arakan Basin (A&AA Basin) for an estimated contract value of Rs 43.23 crore and another for the acquisition of 3D seismic data through outsourcing for Tichna Area of A&AA basin for an estimated contract value of Rs 68.75 crore.

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

Reacting to this news, the stock of Alphageo hit its upper circuit of 10 per cent and thereby, trading was suspended at Rs 201.45 per share, up by 9.99 per cent or Rs 18.30 per share. The 52-week high is recorded at Rs 547.50 and the 52-week low is recorded at Rs 153.10 on BSE.