India's Asian Energy Services gains on 2 bln-rupee order win

Asian Energy Services

17/12/2024 09:19

** Asian Energy Services  ASIE.NS  climbs 2.4% to 396.95
rupees
    ** Upstream energy services provider wins contract worth 2
bln rupees ($23.6 million) to build and operate compressor
stations for Assam Gas Company's pipelines for three years
    ** Says first compressor to be completed in Q4 FY25 and will
earn 820 mln rupees in first year of contract
    ** Stock, which was down 1.6% before news, climbed as much
as 5.2% after announcement
    ** Over 500,000 shares traded, 2.4x the 30-day avg
    ** ASIE gains 42% YTD

($1 = 84.8960 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))