Aakash Exploration Services Limited has informed the Exchange about Awarding of order(s)/contract(s)
AAKASH · price
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Awaiting price reaction for this filing.
Aakash Exploration Services has received a Letter of Award from Oil India Limited, a government PSU under the Ministry of Petroleum and Natural Gas. The contract is for providing High Pressure (HP) Mobile Boiler along with ancillaries to generate high-quality steam for cyclic steam stimulation used in heavy oil production at Oil India's operational area in Rajasthan. The contract is a domestic service order valued at approximately ₹33.70 Crores, to be executed over a period of 2 years. There are no related party interests involved.
This is a sizeable new order from a prestigious government client, providing revenue visibility for 2 years and strengthening the company's order book. Positive for the stock as it confirms business momentum with a PSU client, though the stock reaction will depend on order size relative to the company's overall revenue base.