Asian Oilfield Services gains after winning contract

Asian Oilfield Services rose 3.12% to Rs 134 at 11:21 IST on BSE after the company said it received award of contract from Oil India for an estimated value of Rs 142.86 crore.

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 48.77 points, or 0.18%, to 27,239.40.

On the BSE, so far 1.66 lakh shares were traded in the counter, compared with average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 137.50 and a low of Rs 130.50 so far during the day.

The stock hit a 52-week high of Rs 138.90 on 6 January 2017. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.71% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 81.49% as against Sensex's 2.72% decline.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services has received letter of award of contract from Oil India for 2D Seismic Data Acquisition in Manipur (Area-1) from the unappraised areas of North East India for an estimated contract value of Rs 142.86 crore. The company has acknowledged the receipt of this letter of award and has initiated the acceptance and execution of the same.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.72% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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