Asian Energy Services Ltd receives order worth Rs. 16.69 crores from GAIL

Asian Energy Services Limited ("AESL") has received LOA from Gail (India) Limited for hiring of services for acquisition of seismic data in Block RJONHP20211 from Gail (India) Limited in Rajasthan. The value of LOA is INR 16.69 crores. The contract duration is 6 months.

Mr. Kapil Garg, Managing Director, Asian Energy Services Ltd., speaking about the order win said, Following a period of muted activity on seismic contract award, this is the second contract we have secured. This not only shows our leadership position in the seismic services field, but also indicates inflow of new work orders. The work under this LOA will be completed in current financial year. Further, we are expecting few more awards in coming months for Seismic services which will strengthen our order book for seismic services.

ASIAN order book of existing contracts as on August 01, 2023 is approximately INR 900 crores spread across Seismic Services, Operations & Maintenance Services and Infrastructure Services.

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 123.35 as compared to the previous close of Rs. 125.85. The total number of shares traded during the day was 54138 in over 148 trades.

The stock hit an intraday high of Rs. 124.00 and intraday low of 123.35. The net turnover during the day was Rs. 6691486.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 OrderWin GAILIndia