Why Alphageo India shares Have Soared 75% in only four Days

Shares of Alphageo India hit a fresh 52-week high of Rs 861 today

shares of Alphageo India, a carrier issuer to grease exploration and production region, have rallied a whopping 76 in line with cent in just four buying and selling periods to hit a fresh 52-week high of Rs 861 these days.

Hyderabad-primarily based Alphageo on Tuesday said that it has acquired order really worth Rs 1,482 crore from ONGC. The enterprise in a statement issued to the Bombay stock alternate stated “the order is for acquisition of second seismic records in un-appraised on land areas of Indian sedimentary basins of India as part of the countrywide Seismic Programme by way of March 2019”.

Elaborating on the ONGC order, A. Dinesh, coping with director of Alphageo, informed NDTV earnings that the company will gather 27,000 line km of seismic information as part of the country wide Seismic Programme.

“The company has got a enormous piece of overall work beneath the countrywide Seismic Programme. beneath the programme, 50,000 line km of seismic information is to be collected of which ONGC has around forty,000-forty one,000 line km and the rest is with Oil India,” introduced Mr Dinesh.

shares of Alphageo ended four.4 in line with cent better at Rs 827.30