Gujarat-based penny stock below Rs 15: Company receives an order of Rs 50,00,00,000 from Oil & Natural Gas Corporation Ltd

DSIJ Intelligence-1 / 15 Aug 2025/ Categories: Penny Stocks, Trending

The stock is up over 50 per cent from its 52-week low of Rs 7.06 per share.

Aakash Exploration Services Limited has received a domestic service order valued at approximately Rs 50,00,00,000 (Rs 10,00,00,000 per annum) from Oil & Natural Gas Corporation Limited. The order is for hiring services for a 50 MT Workover Rig for the Ahmedabad Asset, with a contract duration of five years.

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Earlier, the company secured a Letter of Award (LOA) from Oil India Limited, a domestic entity under the Ministry of Petroleum and Natural Gas. This two-year service contract, valued at approximately Rs 33.70 crore, involves providing a High Pressure (HP) Mobile Boiler along with ancillaries. These services are crucial for generating high-quality steam to facilitate cyclic steam stimulation operations, thereby enhancing the production of heavy oil from Oil India's operational areas in Rajasthan.

About the Company

Based in Ahmedabad, Gujarat, India, Aakash Exploration Services Limited (AESL) is an ISO 9001, 14001 and OHSAS 18001 certified company incorporated in 2007, specialising in providing essential services to the Oil and Gas Field sector. AESL primarily operates at the production stage of oil and gas exploration, offering a comprehensive range of services including Oil Enhanced Recovery, Well Head Maintenance (WHM), Well Head Greasing (WHG), Hot Oil Circulation Unit operations and various pumping and drilling unit services. The company utilises a diverse array of equipment such as Air Compressors, Coil Tubing Units, Work Over Rigs and SRP Units to ensure efficient and smooth oil production, playing a crucial role in facilitating the transfer of produced oil to refineries for further processing.

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The company has a market cap of over Rs 100 crore with promoters holding 66.54 per cent stake and public holding 33.46 per cent stake. The stock is up over 50 per cent from its 52-week low of Rs 7.06 per share.

Disclaimer: The article is for informational purposes only and not investment advice.