Asian Oilfield Services up 5%, receives LoA of Rs 109-cr from ONGC

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Shares of Asian Oilfield Services has locked at 5 percent upper circuit on Friday as it has received Letter of Award (LoA) worth Rs 109 crore from ONGC.

The company has received Letter of Award of contract of Rs 108.97 crore from ONGC for 2D seismic data acquisition in unappraised on land area of Sedimentary Basins of India for sector 6 (Ganga).

The company has initiated the process of execution and acceptance of contract.

At 11:46 hrs Asian Oilfield Services was quoting at Rs 240.85, up Rs 11.45, or 4.99 percent on the BSE.

There were pending buy orders of 15,910 shares, with no sellers available.

Posted by Rakesh Patil