Rs 1,000 crore order book: Oil exploration company secures Rs 82 crore contract from Oil India Ltd for 2D Seismic Data in Rajasthan Basin
The stock gave multibagger returns of 130 per cent in 1 year and a whopping 405 per cent in 2 years.
AESL, a comprehensive service provider for the upstream oil and gas industry, has secured a contract from Oil India Limited for 2D Seismic Data Acquisition covering 4,300 Line kilometers (LKM) in the Rajasthan Basin. This project is part of the government's Mission Anveshan initiative to boost hydrocarbon exploration in India. The contract, valued at approximately Rs 82 crore (including taxes and duties) will be executed over 18 months. With this addition, AESL's total order book now stands at around Rs. 1,000 crores, with a significant portion of the work scheduled to be completed within the next two years.
Commenting on this, Mr Kapil Garg, Managing Director of Asian Energy Services Limited said, “We are thrilled to have secured the 2D Seismic order, a significant step in reinforcing our presence within the industry. We remain steadfast in our commitment to actively pursue the right opportunities across every business segment and are continuously striving to enhance our capabilities and deliver excellence across the board.”
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
Asian Energy Services Ltd 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. It is one of the few companies providing end-to-end services in the upstream oil segment. The company has a market cap of over Rs 1,500 crore.
On Friday, shares of Asian Energy Services Ltd gained 2.16 per cent to Rs 367.05 per share from its previous closing of Rs 359.30 per share with an intraday high of Rs 368.75 and an intraday low of Rs 355. The stock’s 52-week high is Rs 444.35 and its 52-week low is Rs 160.95.
The stock gave multibagger returns of 130 per cent in 1 year and a whopping 405 per cent in 2 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.