01 Oct 2024

Asian Energy Services Sees Stock Rise Amid New Contract Win

Asian Energy Services is currently trading at Rs. 367.15, marking an increase of 6.65 points or 1.84% from its previous close of Rs. 360.50 on the BSE.

The stock began trading at Rs. 362.35 and has hit an intraday high of Rs. 373.00 and a low of Rs. 362.35. So far, 1,796 shares have been traded.

This BSE Group 'B' stock, with a face value of Rs. 10, reached its 52-week high of Rs. 444.35 on August 27, 2024, and its 52-week low of Rs. 168.50 on November 22, 2023.

For the last week, the stock’s high and low were Rs. 379.35 and Rs. 343.00 respectively. The company's market capitalization stands at Rs. 1,636.51 crore.

Promoters hold 58.52% of the company’s shares, while institutions and non-institutional investors own 3.15% and 38.33%, respectively.

Asian Energy Services (AESL) recently secured a contract from Oil India to acquire 2D seismic data over 4,300 kilometers in the Rajasthan Basin, as part of Mission Anveshan. The total contract value is approximately Rs. 82 crore, including taxes and GST, and the project will be completed within 18 months. The company's current order book stands at around Rs. 1,000 crore.

Formerly known as Asian Oilfield Services, the company offers a variety of services to both domestic and international firms, specializing in seismic data acquisition, processing, and interpretation, leveraging its team of experienced professionals.