South West Pinnacle jumps after bagging contract from NALCO

South West Pinnacle Exploration (SWPEL) rallied 4.24% to Rs 192.95 after it has received a letter of award (LoA) from National Aluminium Company (NALCO) to act as a consultant for the detailed exploration of bauxite mines in Odisha.

The scope of work includes survey activities, exploration drilling using core drill machines and other related activities followed by submission of draft and final geological report. SWPEL is required to conduct the exploration in compliance with all statutory and legal norms applicable to NALCO.

The contract is valued at Rs 11.78 crore (including GST) and is expected to be completed within 24 months.

 

SWPEL is an integrated service provider, providing end-to-end drilling & exploration of natural resources viz. coal, ferrous, non-ferrous & atomic minerals and conventional & non- conventional oil & gas and ground water investigation.

The companys consolidated net profit surged over twentyfold to Rs 8.36 crore in Q2 FY26 from Rs 0.40 crore in Q2 FY25. Revenue from operations surged 128.2% YoY to Rs 62.44 crore in Q2 FY26.

Powered by Capital Market - Live News