Alphageo (India) gains after securing a contract from Oil India

Alphageo (India) rose 3.42% to Rs 595 at 9:53 IST on BSE after the company said it has secured a contract worth Rs 102.42 crore from Oil India.

The announcement was made after market hours yesterday, 15 March 2016.

Meanwhile, the S&P BSE Sensex was down 110.67 points or 0.45% at 24,440.50.

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 3,038 shares in the past two weeks. The stock hit a high of Rs 605.10 and a low of Rs 590 so for during the day. The stock had hit a 52-week high of Rs 720 on 30 November 2015. The stock had hit a 52-week low of Rs 268 on 24 August 2015.

The small-cap company has equity capital of Rs 5.63 crore. Face value per share is Rs 10.

Alphageo (India) said that it has received a contract from Oil India for provision of 2D seismic acquisition services in the areas covering parts of Assam & Arunachal Pradesh for an estimated contract value of Rs 102.42 crore. The contract is to be executed by November 2018. This contract is under National Seismic Program for acquisition of 2D Seismic Data in unappraised areas of North East India entrusted to Oil India.

On consolidated basis, Alphageo (India) reported net loss of Rs 0.14 crore in Q3 December 2015 as against net profit of Rs 5.13 crore in Q3 December 2014. Net sales declined 9.3% to Rs 14.01 crore in Q3 December 2015 over Q3 December 2014.

Alphageo (India) is the largest onshore integrated seismic service provider in the private sector and enjoys a market leadership in seismic survey.

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