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Alphageo India Shares Gain After Rs 39-Crore Order Win
The company was awarded a contract by ONGC to acquire 3D seismic data for 303 square kilometers of the Ganga basin.
17 Jul 2023, 11:10 AM IST 
The company received the award of contract from Oil and Natural Gas Corp., Dehradun to acquire 3D seismic data for 303 square kilometers of Ganga basin in Uttar Pradesh and Bihar. (Source: Freepik)
Shares of Alphageo India Ltd. rose the most in over three weeks on Monday after the company won a contract worth Rs 39.3 crore.
The company was awarded a contract by Oil and Natural Gas Corp., Dehradun to acquire 3D seismic data for 303 square kilometers of the Ganga basin in Uttar Pradesh and Bihar, according to its exchange filing. The contract will be executed by March 2024.
Shares of Alphageo India rose as much as 5.92%, the most since June 28, and were trading 5.29% higher at 10:04 a.m. compared to a 0.26% gain in the NSE Nifty 50.
The average traded volume so far in the day stood at 3.1 times its monthly average. The relative strength index was at 75, indicating the stock may be overbought.
