Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; hits fresh 52-week high!

Shares of the company gained more than 110 per cent in the last six months.

Shares of Asian Energy Services Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock also made a fresh 52-week high of Rs 283.20. In the last six months, the stock has gained about 110 per cent.

The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 45.48 crore which grew by 82.45 per cent YoY. The operating profit of the company stood at Rs 5.63 crore, while the PAT of the company stood at Rs 0.98 crore, from a loss of Rs 19.20 crore last year's same quarter. The PAT increased by about 1959 per cent on a YoY basis.

Asian Energy Services Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 89.90 on December 24, 2020, to Rs 283.15 on December 19, 2023, an increase of more than 200 per cent in a three-year holding period.

Asian Energy Services Limited is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation and maintenance services for oilfields. It is one of the few companies providing end-to-end services in the upstream oil segment.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.