Alphageo on bulls run; has rallied over 50 per cent in last 4 days

The largest onshore integrated seismic service provider Alphageo (India) Limited has surged by almost 50 per cent over the last 4 days. The stock is a part of Small cap index which is up by 4.96 per cent on an intraday basis. The shares on the intraday basis as at 2:25 pm are trading at Rs 832, up by 4.92 per cent.

Alphageo (India) Limited has bagged various contracts from Oil and Natural Gas Corporation of India Ltd (ONGC Ltd). The estimated total value of the contract received is about Rs 1482 crores inclusive of taxes. The Company has acknowledged the receipt of these Letters of Awards and has initiated the necessary steps to accept and execute the same, the company said in a press release.

The company has managed to post good numbers this quarter. Alphageo’s net profit has increased by 3.84 times and stands at Rs 7.81 crores for Q4FY16 as against Rs 2.03 crores for Q4FY15. Top line of the firm has increased by 3 times and stands at Rs 52.65 crores for this March quarter. 

The company is engaged in providing seismic survey services to the oil exploration & production sector. The company provides various services including design and preplanning of 2D and 3D surveys; seismic data acquisition in 2D and 3D; seismic data processing and reprocessing; seismic data interpretation; generation, evaluation, and ranking of prospects; reservoir data acquisition; and reservoir analysis.