India's Asian Energy Services rises on share purchase agreement

Asian Energy Services

06/10/2022 10:53

** Shares of Asian Energy Services Ltd  ASIE.NS  rise as
much as 7.5% to 78.55 rupees, their highest since Sept. 23
    ** Stock posts its biggest intraday pct gain since Sept. 8
    ** Stock set to rise for second straight session
    ** Co said on Tuesday it entered into a share purchase
agreement with Cure Multitrade Pvt Ltd (CURE) and transferors to
buy 51% stake in CURE  urn:newsml:reuters.com:*:nFWN3141DV
    ** Cost of acquisition is 2 million rupees ($24,425.99)
    ** Deal to strengthen co's services offerings in oil and gas
sector
    ** More than 96,037 shares change hands by 0947 GMT, 1.2x
30-day avg of 82,772 shares
    ** Stock down 46% YTD up to last close
($1 = 81.8800 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))