.

follow-on-google-news

On Friday, the share price of this leading firm in the energy infrastructure sector gained an intraday high of 4.5 percent to Rs 283 per share after the company received a Rs 21.9 crore work order. 

Asian Energy Services Ltd belongs to the small-cap category of stock, with a market capitalization of Rs 1,096 crore. 

According to the company’s exchange filing, the company received a work order from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited for a value of Rs 21.9 crores for the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, Jharkhand. The order is to be executed within 8 to 9 months. 

Looking into the company’s financials, its revenues have increased by 82 percent year on year from Rs 24.93 crore in Q2FY23 to Rs 45.48 crore in Q2FY24, while the company has turned around its net losses to profit of Rs 1.20 crore from a loss of Rs 18.88 crore. 

Asian Energy Services shares have gained percent in the last six months and delivered a muli-bagger return of 290 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 3.90 lakhs in a year. 

In FY23, the company received a majority of its revenue from the Oil and gas segment accounting for 57 percent of the total revenue, and the rest of the revenue from the Mineral and other energy sectors. 

Asian Energy Services Limited (AESL) offers end-to-end services that extend across the entire upstream value chain. The company’s service offerings include 2D and 3D Seismic Geophysical Data Acquisition, Integrated Supply and Installation of Coal Handling Plants and Rapid Loading Systems, as well as the Supply, Commissioning, and integrated Operations and Maintenance (O&M) of Onshore and Offshore Oil and Gas Production Facilities. 

At the time of writing this report, Asian Energy Services shares were trading at Rs 278.25 per share, up Rs 7.60 or 2.81 percent from the previous close price.

Written by Omkar Chitnis

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

×