Asian Energy Services jumps on securing LoA from Central Coalfields
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Asian Energy Services is currently trading at Rs. 316.65, up by 6.05 points or 1.95% from its previous closing of Rs. 310.60 on the BSE.
The scrip opened at Rs. 326.10 and has touched a high and low of Rs. 326.10 and Rs. 313.45 respectively. So far 38319 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 344.50 on 31-Jan-2024 and a 52 week low of Rs. 51.76 on 02-Mar-2023.
Last one week high and low of the scrip stood at Rs. 326.10 and Rs. 285.05 respectively. The current market cap of the company is Rs. 1233.77 crore.
The promoters holding in the company stood at 61.38%, while Institutions and Non-Institutions held 3.95% and 34.67% respectively.
Asian Energy Services (AESL) has secured LoA (alongside its JV partner) from Central Coalfields (subsidiary of Coal India). The work programme encompasses Planning, Design, Engineering, Construction, Fabrication, Erection, Supply, Installation, Testing, Trial run and Commissioning of a Coal Handling Plant, along with SILO loading at KARO OCP consisting of all Civil, Structural, Electrical and Mechanical Works and Operation & Maintenance of the plant for 5 years. This esteemed project is valued at Rs 250 crore inclusive of taxes.
This LoA marks a major milestone for AESL, not only expanding its services portfolio but also reinforcing its presence in the rapidly expanding energy infrastructure sector in India. The execution of works under this project will contribute significantly to the company's financial performance in FY25 and FY26 while providing long-term revenue visibility.
The successful bid for this contract aligns with AESL's strategic vision to diversify its portfolio and solidify its position as a key player in the energy infrastructure landscape. The company remains dedicated to delivering excellence in every project it undertakes, thereby contributing to the nation's energy security and sustainable growth.
Asian Energy Services (formerly Asian Oilfield Services) provides range of services to reputed national and multinational companies. The company banks on the rich experience of well qualified professionals for providing seismic data acquisition, processing and Interpretation services.
