Multibagger small-cap stock surges 6% in weak Indian stock market on ₹865 crore order from Vedanta
The firm announced in its exchange filing that the contract will be carried out over a period of 57 months. Kapil Garg, the Managing Director of Asian Energy Services Limited, expressed that they feel privileged to have secured the Integrated Service Contract for field development and Operations & Maintenance (O&M) from Vedanta, a valued and loyal client. This ongoing partnership demonstrates the trust established through reliable service and a commitment to operational excellence.
Integrated O&M continues to be a primary focus for Asian Energy Services and a significant driver of growth. The company's capacity to safely and effectively manage critical infrastructure solidifies their status as a preferred partner in the energy industry. This contract reinforces the confidence in our team's ability to deliver consistently in complex and demanding situations, according to Kapil Garg.
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Economic Times
4 days ago
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Asian Energy Services shares rally over 11% in 2 days after Rs 865 crore order from Vedanta
Shares of Asian Energy Services climbed for a second straight session on Tuesday, July 29, rising as much as 3.8% intraday to Rs 317.85 on the BSE, extending gains to 11.5% over two days. The rally comes after the company announced on Monday that it had secured an Rs 865 crore Integrated Service Contract from metal and mining conglomerate Vedanta Limited. ADVERTISEMENT In an exchange filing, Asian Energy Services said the contract will be executed over 57 months. The scope of work includes field development and Operations & Maintenance (O&M) services. Kapil Garg, Managing Director of Asian Energy Services, said, 'We feel privileged to have secured the Integrated Service Contract for field development and Operations & Maintenance (O&M) from Vedanta, a valued and loyal client.' He said, 'This ongoing partnership demonstrates the trust established through reliable service and a commitment to operational excellence.' Asian Energy Services provides end-to-end upstream oil and gas services, including 2D and 3D seismic geographical data acquisition, production enhancement, and O&M of onshore and offshore production facilities. It also offers mining-related solutions such as material handling plant installation and rapid loading systems. Despite the recent uptrend, Asian Energy Services shares are still down 18% in 2025 so far and have fallen 8.4% over the past 12 months. However, the stock has risen 11% in the past three months and gained 5.7% in the last one month. Over a longer horizon, the small-cap multibagger has surged 138% in two years and 239% in five years. ADVERTISEMENT On the technical front, the stock is trading above seven of its eight key simple moving averages (SMA), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day SMAs. It remains below its 200-day Relative Strength Index (RSI) stands at 57.6, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) at -0.6 continues to stay below the centre line, suggesting a bearish bias persists despite recent price action. ADVERTISEMENT Also read | Reliance Power shares down 15% in a month as ED probe drags. Can the stock reclaim Rs 70 amid volatility? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
4 days ago
- Time of India
Asian Energy Services shares rally over 11% in 2 days after Rs 865 crore order from Vedanta
Shares of Asian Energy Services climbed for a second straight session on Tuesday, July 29, rising as much as 3.8% intraday to Rs 317.85 on the BSE, extending gains to 11.5% over two days. The rally comes after the company announced on Monday that it had secured an Rs 865 crore Integrated Service Contract from metal and mining conglomerate Vedanta Limited . In an exchange filing, Asian Energy Services said the contract will be executed over 57 months. The scope of work includes field development and Operations & Maintenance (O&M) services. Explore courses from Top Institutes in Please select course: Select a Course Category Artificial Intelligence healthcare Cybersecurity Finance Management PGDM Data Science Leadership Design Thinking Others CXO MBA Project Management Product Management Public Policy Data Science Operations Management Digital Marketing Healthcare Data Analytics Technology Degree others MCA Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Kapil Garg, Managing Director of Asian Energy Services, said, 'We feel privileged to have secured the Integrated Service Contract for field development and Operations & Maintenance (O&M) from Vedanta, a valued and loyal client.' He said, 'This ongoing partnership demonstrates the trust established through reliable service and a commitment to operational excellence.' Asian Energy Services provides end-to-end upstream oil and gas services, including 2D and 3D seismic geographical data acquisition, production enhancement, and O&M of onshore and offshore production facilities. It also offers mining-related solutions such as material handling plant installation and rapid loading systems. Performance and technical Live Events Despite the recent uptrend, Asian Energy Services shares are still down 18% in 2025 so far and have fallen 8.4% over the past 12 months. However, the stock has risen 11% in the past three months and gained 5.7% in the last one month. Over a longer horizon, the small-cap multibagger has surged 138% in two years and 239% in five years. On the technical front, the stock is trading above seven of its eight key simple moving averages (SMA), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day SMAs. It remains below its 200-day SMA. The Relative Strength Index (RSI) stands at 57.6, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) at -0.6 continues to stay below the centre line, suggesting a bearish bias persists despite recent price action. Also read | Reliance Power shares down 15% in a month as ED probe drags. Can the stock reclaim Rs 70 amid volatility? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
4 days ago
- Economic Times
Vedanta awards Rs 865 crores integrated service contract to AESL
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