Smallcap stock Alphageo share price hits 5% upper circuit after receiving ₹132 crore order from Oil India

Stock Market Today- Smallcap Alphageo (India) share price was locked in the 5% upper circuit in the morning trade on Tuesday, October 1. 

Alphageo (India) share price gained after the company announced receiving an order worth ₹131.63 crore from Oil India Ltd.

Shares of Alphageo (India) Ltd opened at ₹436.80 on the NSE on Tuesday, 5% higher than their previous closing price of ₹416. Alphageo (India) share price thereafter was locked in the 5% upper price band.

The company in an exchange filing on Monday informed about the award of a contract from Oil India Limited, Duliajan, Assam.

The order is for 20 seismic data acquisition in the Ganga-Punjab Basin for a contract value of Rs. 131.63 crore (inclusive of taxes), as per the release.

The time period of the contract awarded by Oil India to Alphageo (India) is till June, 2026.

Leading the industry in seismic surveys, Alphageo (India) is a private sector onshore integrated seismic service provider. Incorporated in 1987, Alphageo (India) Ltd's headquarters are located in Hyderabad, India.

Alphageo (India) share price has given multibagger returns to investors, having risen almost three-fold from its October 2020 lows and almost two-fold since March 2023 lows.

During the quarter ended June 2024, Alphageo (India) reported a five-fold increase in revenue from operations to ₹25.26 crore compared with ₹5.14 crore in the June 2023 quarter.

Alphageo (India) Ltd's profit stood at ₹4.02 crore during the April-June 2024 quarter compared to a loss in the same period last year.

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