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Economic Times
19 hours ago
- Business
- Economic Times
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
19 hours ago
- Business
- 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)
Mint
2 days ago
- 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
2 days ago
- 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.
The Hindu
6 days ago
- Business
- The Hindu
Vedanta declared preferred bidder for Janthakal iron ore mine in Karnataka
Vedanta Limited, a natural resources and critical minerals company, has been declared as the preferred bidder for the Janthakal iron ore mine in Chitradurga. The company emerged successful in the e-auction process conducted by the Department of State Mines and Geology. The Janthakal block spans 71.16 hectares and is categorised as a G3 level exploration site, according to a company release. The award is subject to subsequent approvals, clearances, and fulfilment of conditions laid out in the tender. During the quarter, Hindustan Zinc Limited (a Vedanta Group company) secured two critical mineral blocks, Potash in Rajasthan and Rare Earth Elements (REEs) in Uttar Pradesh, the company's release said.
