Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; bags a new order worth Rs 78.24 crore from ONGC!

The shares of the company gained more than 80 per cent in the last six months.

Shares of Asian Energy Services Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. In the last one month, the stock has gained about 30 per cent. The company recently received LOA from ONGC for 3D Seismic Data Acquisition services in Gujarat. The value of LOA is Rs 78.24 crores. The contract duration is 11 months.

The revenue of the company in the recent quarter (Q4FY23) stood at Rs 28.69 crore which declined by 53.65 per cent YoY. The operating profit of the company stood at Rs -1.66 crore, while the PAT of the company stood at Rs -6.68 crore.

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 130.75, with a high and low of Rs 130.75 and Rs 130.75. The stock previously closed at Rs 124.55. The stock closed trading at Rs 130.75, up by 4.98 per cent.

The stock has a 52-week high of Rs 134.00 and a 52-week low of Rs 51.76. The company has a market capitalisation of Rs 497.82 crore. The stock has impressive returns of over 80 per cent in the last six months and investors should keep a close eye on this stock as a turnaround in the company can be expected.