Asian Energy Services shares rally over 11% in 2 days after Rs 865 crore order from Vedanta
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.
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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.
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