India's Asian Energy falls after ONGC's 2-year tendering ban

Asian Energy Services

23/09/2024 06:14

** Shares of India's Asian Energy Services  ASIE.NS  drop 3%
to 364.5 rupees 
    ** Co, which provides services to energy and mining cos,
said on Friday that ONGC  ONGC.NS  has put co on "holiday" for
two years 
    ** Adds, will not participate in any tender with ONGC in
this period
    ** ONGC up ~2% on the day 
    ** ONGC's order "on certain technical grounds"; co taking
steps to protect its interest, ASIE adds 
    ** On Friday, ASIE logged its third straight weekly loss
    ** YTD ASIE up 34% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))