Shiv Vani Oil & Gas Exploration Services gained 5.89% to Rs 580 at 12:56 IST on BSE after the company said secured a contract worth Rs 1610 crore from Oil & Natural Gas Corporation to deploy eight onshore deep drilling rigs.
The company made this announcement during trading hours today, 7 August 2008.
The stock hit a high of Rs 608.60 and a low of Rs 536.75 so far during the day. The stock had hit a 52-week high of Rs 739.95 on 17 January 2008 and a 52-week low of Rs 300 on 16 August 2007.
The company has an equity capital of Rs 43.91 crore. Face value per share is Rs 10.
The current price of Rs 580 discounts its Q1 June 2008 annualised EPS of Rs 19.33, by a PE multiple of 30.
With this contract, the company’s order backlog stands over Rs 4500 crore executable over a period of three years expect PDO Oman order of Rs 800 crore which is executable in 11 years.
Shiv Vani Oil & Gas Exploration Services’ net profit surged 115.9% to Rs 21.22 crore on 118.4% growth in net sales to Rs 142.26 crore in Q1 June 2008 over Q1 June 2007.
Shiv Vani Oil is the largest seismic data operator in India. The company is also the largest operator of land breaks.
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