Latest news with #ServiceContract
Economic Times
28-07-2025
- Business
- Economic Times
Vedanta awards Rs 865 crores integrated service contract to AESL
Reuters Vedanta awards Rs 865 crores integrated service contract to AESL Vedanta Ltd. awards Rs 865 crore integrated service contract to Asian Energy Services Ltd., AESL announced on Sunday. The contract is awarded for field development and Operations & Maintenance (O&M) contract. The total contract value is Rs 865 crores, including GST. The mentioned integrated service order will be executed by Asian Energy Services Ltd. over a span of 57 months, the company said in a stock exchange filing. 'We are honoured to receive Integrated Service Contract for field development and Operations & Maintenance (O&M) contract from Vedanta, one of our valued and long-standing clients," said Kapil Garg, MD, AESL. Integrated O&M remains a core area of focus at Asian Energy Services and a key growth driver, he added. Since its acquisition by Oilmax Energy Private Limited (OEPL), AESL has diversified its business verticals to capture more value across the energy and upstream oil and gas value chains, for long-term value creation for its investors and stakeholders.
Mint
28-07-2025
- Business
- Mint
Multibagger small-cap stock surges 6% in weak Indian stock market on ₹865 crore order from Vedanta
Multibagger small-cap stock Asian Energy Services jumped over 17% in Monday's trading session after the company said it has been awarded an ₹ 865 crore Integrated Service Contract by metal and mining major Vedanta Limited. The firm announced in its exchange filing that the contract will be carried out over 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, Garg said. '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 its 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. Asian Energy Services provides comprehensive services that cover the full upstream value chain. The services offered by Asian Energy Services include Integrated Oil & Gas solutions, such as 2D and 3D Seismic Geographical Data Acquisition, management and upkeep of onshore and offshore oil and gas production facilities, production enhancement services, as well as mining solutions that consist of the supply and installation of Material Handling Plants and Rapid Loading Systems. Asian Energy Services share price today opened at ₹ 309.10 apiece on the NSE; the stock touched an intraday high of ₹ 334.90 per share, and an intraday low of ₹ 297.60 apiece. While the small-cap stock has seen some volatility in the short term, losing 1.5% in the past one year, it has emerged as a multibagger bet in the long term. The stock has jumped 148% in two years and 245% in five years. According to Anshul Jain, Head of Research at Lakshmishree Investments, Asian Energy Services share price has been trading in a tight range for the past 70 days, showing clear signs of consolidation. 'Today's price action is drawing significant attention, with volumes spiking over 2,218% above the 50-day average — a strong precursor to a potential breakout. A sustained move above the ₹ 340–345 zone will confirm the breakout and open up immediate upside targets in the range of ₹ 395 to 425. The volume surge indicates strong accumulation, and if follow-through buying continues, the stock could witness a sharp momentum-driven rally in the near term," Jain said.
Mint
28-07-2025
- Business
- Mint
Multibagger small-cap stock surges 6% in weak Indian stock market on ₹865 crore order from Vedanta
Shares of Asian Energy Services jumped over 17% on Monday's session after the company was awarded ₹ 865 crore Integrated Service Contract from Vedanta Limited. 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.
