Asian Oilfield Services jumps after winning contracts from Oil India

Asian Oilfield Services rose 6.40% to Rs 76.50 at 9:46 IST on BSE after the company received two contracts from Oil India worth approximately Rs 140 crore.

The announcement was made after market hours yesterday, 21 November 2016.

Meanwhile, the BSE Sensex was up 178.26 points, or 0.69%, to 25,943.40.

On BSE, so far 72,000 shares were traded in the counter, compared with average daily volume of 97,910 shares in the past one quarter. The stock hit a 52-week high of Rs 89.80 on 25 October 2016. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, falling 13.63% compared with the 8.23% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 2.49% as against Sensex's 7.95% decline.

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

Asian Oilfield Services said it received letters of award of two contracts by Oil India for acquisition of 2D Seismic Data in unappraised on land areas of North East India for an estimated total value of Rs 140 crore for both the contracts.

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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