The shares of this oil and gas exploration firm moved up by 5 percent reaching a 52-week high price of Rs 789.95 as of 14th June 2024, following bulk deals worth Rs. 7.18 crores via open market transactions on 13th June 2024.
With a market capitalization of Rs. 1,146.61 crores, at 11:05 a.m., the shares of Selan Exploration Technology Limited were trading in the green at Rs. 760.45, up by 0.81 percent.
The stock moved up by 4.6 percent on NSE to hit an intraday high at Rs. 789.95 on Friday, compared to its previous closing price of Rs 755.10 a piece.
According to the bulk deal data available with the NSE, fluctuations in the share prices were observed following the bulk deals amounting to Rs. 7.18 crore on 13th June 2024 through open-market transactions.
Bofa Securities Europe SA, a foreign Institutional Investor purchased 98,327 equity shares worth Rs. 7.18 crores in Selan Exploration Technology Limited, at an average price of Rs. 731.15 a piece.
According to the BSE data, Ace Investor Mrs Dolly Khanna entered the stock in March 2024, by acquiring approximately 1.56 lakh equity shares equivalent to a 1.03 percent stake in this company. The current holding value of his investment amounts to Rs. 12.1 crores.
Considering the financials of the firm from a year-on-year basis, the revenue from operations increased by 40.6 percent from Rs. 118 crores in FY22-23 to Rs 166 crores in FY23-24. While the net profits of the firm increased by 6.45 percent from Rs. 31 crores in FY22-23 to Rs 33 crores in FY23-24.
As per the company’s filings, the firm has three plants located in Bakrol, Karjisan, and Lohar. The average sales generated from these units were 497 BOEPD (Barrels of Oil Equivalent Per Day),159 BOEPD, and 84 BOEPD respectively.
Selan Exploration Ltd has also successfully completed its merger with Antelopus Energy Private Limited. This strategic move positions Selan Exploration as a leading energy company in India. Additionally, The merger enhances operational synergies and diversifies Selan’s portfolio across in multiple sedimentary basins, both onshore and offshore.
The shares of this company generated a multi-bagger return of 152 percent over the past year and 54.59 percent over the past 6 months.
Selan Exploration Technology Limited, incorporated in 1985, is engaged in the business of Oil & Gas exploration and production. The company is headquartered in Gurgaon.
Written By Zahal.
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