Alphageo (India) soars after large order win

Alphageo (India) was locked at 20% upper circuit at Rs 792.10 at 14:19 IST on BSE, with the stock extending a solid rally registered during the previous trading session triggered by the company's announcement of a large order win.

Meanwhile, the S&P BSE Sensex was down 31.69 points or 0.12% at 26,977.98,

On BSE, so far 1.16 lakh shares were traded in the counter as against average daily volume of 6,752 shares in the past one quarter. The stock hit a fresh 52-week high today, 8 June 2016. The stock hit a low of Rs 756 so far during the day. The stock had hit a 52-week low of Rs 268 on 24 August 2015. The stock had outperformed the market over the past one month till 7 June 2016, rising 15.1% compared with 7.06% gains in the Sensex. The scrip also outperformed the market in past one quarter, gaining 20.46% as against Sensex's 9.59% gains.

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

Shares of Alphageo (India) rose by maximum permissible daily limit of 20% to settle at Rs 660.10 on BSE yesterday, 7 June 2016, after the company announced that it has secured letters of award for contracts aggregating Rs 1482 crore from ONGC. The contracts pertain to acquisition of 2D seismic data in un-appraised on land areas of Indian sedimentary basins as a part of the National Seismic Program. The company has initiated the necessary steps to execute the contracts.

Alphageo (India)'s consolidated net profit surged 9052.4% to Rs 19.22 crore on 442.1% growth in total income to Rs 71.02 crore in Q4 March 2016 over Q4 March 2015.

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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