Asian Energy Services shares jumps 6% after firm acquires 50% interest in the oil & gas field at Indrora, Gujarat

Asian Energy said that its holding company Oilmax Energy Private Limited has been granted a mining lease for 20 years, effective from April 1, 2023 of DSF Block for Crude Oil and Natural
Gas from the Government of Gujarat.

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Asian Energy Services stock price jumped over 6 percent intraday on March 21 after the company said it will acquire stake in oil & gas field situated at Indrora, Gujarat.

According to a BSE filing, Asian Energy said that its holding company Oilmax Energy Private Limited has been granted a mining lease for 20 years, effective from April 1, 2023 of DSF Block for Crude Oil and Natural
Gas from the Government of Gujarat (Energy and Petrochemicals Department).

The stock price has surged over 75 percent in the last 15 days and was trading at Rs 95.99, up Rs 6.01, or 6.68 percent on BSE. It has touched an intraday high of Rs 98.50 and an intraday low of Rs 92.05.

The scrip was trading with volumes of 55,382 shares, compared to its five day average of 40,943 shares, an increase of 35.27 percent.

It was trading with volumes of 53,190 shares, compared to its thirty day average of 29,568 shares, an increase of 79.89 percent.