Asian Energy Services shares rally over 11% in 2 days after Rs 865 crore order from Vedanta
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 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.
ADVERTISEMENT Also read | Reliance Power shares down 15% in a month as ED probe drags. Can the stock reclaim Rs 70 amid volatility?
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