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Alphageo rises on receiving order from ONGC

Ganesh V
/ Categories: Mindshare, DSIJ News
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Alphageo rises on receiving order from ONGC

Alphageo (India) Limited today announced that it has been awarded a contract from Oil & Natural Gas Corporation Limited (ONGC Ltd), Dehradun for providing services for 3D seismic data acquisition in OALP-IV block of Vindhyan Basin during the field season of 2020-21. The estimated value of the contract is Rs 77 crore (inclusive of taxes) for Sector-I. 

Reacting to this, the company’s stock increased by 2.68 per cent and made an intraday high of Rs 206.60 per share at 11.25 am today. 

Besides, the company reported a net profit of Rs 13.79 crore in Q3FY21, an increase of 99.48 per cent. It had reported a profit of Rs 6.91 crore in Q3FY20. The company reported a total income of Rs 63.10 crore for Q3FY21, a decrease of 5.13 per cent as against the total income of Rs 66.52 crore for Q3FY20. 

Alphageo (India) Ltd is a small-cap company operating in the gas & petroleum sector. 

According to BSE data, the stock traded at a price-to-book ratio of 0.63. The stock has a 52-week high and a 52-week low of Rs 278.90 and Rs 110.05, respectively. 

At 2.13 pm, the stock of Alphageo was trading at Rs 202.7, up by 0.75 per cent on BSE. 

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