Aakash Exploration Soars Nearly 10% After Bagging ₹33.70 Cr Oil India Contract
By Shishta Dutta | Published at: Jun 23, 2025 05:10 PM IST
Ahmedabad, June 23 – Following the disclosure of a major contract victory, Aakash Exploration Services Ltd (NSE: AAKASH) jumped 7.04% on Monday to close at ₹13.36. Oil India Limited sent the company a Letter of Award for a service contract worth around ₹33.70 crore.
Contract Details
In an exchange filing, Aakash Exploration announced that it has secured a two-year domestic service order from Oil India Limited, a PSU under the Ministry of Petroleum and Natural Gas. The contract pertains to the hiring of high-pressure mobile boilers and related equipment for steam generation in heavy oil production operations in Rajasthan.
Key Contract Information
| Particulars | Details |
|---|---|
| Client | Oil India Limited |
| Order Value | ₹33.70 crore (approx.) |
| Nature of Contract | Service Order |
| Duration | 2 years |
| Location | Rajasthan, India |
| Promoter/Group Company Interest | None |
| Related Party Transaction | No |
Market Reaction and Trade Metrics
From its previous closing of ₹12.22, the stock jumped ₹1.22; trading volume was 52.57 lakh shares and traded value was ₹6.80 crore. On NSE, the stock ranked among the top 10 gains for the day.
Trading Snapshot (as of 03:25PM IST, June 23, 2025)
| Metric | Value |
|---|---|
| Last Traded Price | ₹13.08 |
| Day’s High | ₹13.44 |
| Day’s Low | ₹12.53 |
| VWAP | ₹12.94 |
| 52-Week High | ₹17.15 |
| 52-Week Low | ₹7.06 |
| Total Market Cap | ₹132.44 crore |
| Free Float Market Cap | ₹44.40 crore |
| P/E Ratio (Adjusted) | 67.33 |
The stock is currently under LT ASM-1 due to a P/E ratio exceeding 50 over the past four quarters, as per exchange classification.
Outlook
This ₹33.70 crore contract marks a significant milestone for Aakash Exploration, enhancing revenue visibility in its core offshore and oilfield support segment. With the project slated for execution over the next 24 months, the deal aligns with the company’s strategy of expanding service offerings to national oil companies.
About the Company
Aakash Exploration Services Ltd, listed on NSE since September 29, 2020, operates in the oilfield services sector with specialisation in offshore support and drilling solutions. The company continues to build a diversified client base across domestic energy operators.
REF: https://nsearchives.nseindia.com/corporate/AAKASH_23062025132208_Intimation_for_award_23062025_Signed.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
