Alphageo (India) recovers after receiving contract

Alphageo (India) gained 2.44% to Rs 978.50 at 12:00 IST on BSE after the company announced that it has received notification of award of contract from ONGC for an estimated contract value of Rs 154.77 crore.

The order is for acquisition of 3D seismic data in Mehsana Carpet Area of Canbay Basin, India.

The announcement was made on Saturday, 2 December 2017.

Meanwhile, the S&P BSE Sensex, was up 88.46 points or 0.27% at 32,921.40. The S&P BSE Small-Cap index, was down 12.71 points or 0.07% at 18,004.77, underperfoming the Sensex.

On the BSE, 6,508 shares were traded in the counter so far as against average daily volume of 11,934 shares in the past one quarter. The stock had hit a high of Rs 995 and a low of Rs 967.60 so far during the day. The stock had hit a 52-week high of Rs 1,101 on 30 May 2017. The stock had hit a 52-week low of Rs 750 on 3 November 2017.

The stock had dropped 8.71% in five sessions to settle at Rs 955.20 on 1 December 2017, from a close of Rs 1,046.35 on 24 November 2017.

The stock had outperformed the market over the past one month till 1 December 2017, gaining 24.75% compared with the Sensex's 2.28% decline. The stock had also outperformed the market over the past one quarter, advancing 20.4% as against the Sensex's 2.95% rise. The scrip had, however, underperformed the market over the past one year, dropping 2.21% as against the Sensex's 23.62% rise.

The small-cap company has equity capital of Rs 6.36 crore. Face value per share is Rs 10.

Alphageo (India)'s consolidated net profit rose 96.3% to Rs 15.47 crore on 120.1% jump in net sales to Rs 114.94 crore in Q1 June 2017 over Q1 June 2016.

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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