Penny stock zooms 33% on order win from ONGC, check details 

Penny stock: Shares of Aakash Exploration Services have risen 33% in two sessions after the company received a Letter of Award (LoA) from Oil and Natural Gas Corporation Limited (ONGC). The total order value is approximately Rs 19.36 crore.

Aakash Exploration Services stock zoomed from Rs 8.76 from Tuesday's close to a high of Rs 11.64  in the current session, rising 32.87% in two days.  In Thursday's session, the stock rose to a high of Rs 11.64 against the previous close of Rs 9.70 on NSE. The stock is not listed on BSE. 

The duration for executing the order has been fixed at three years. The company received the Letter of Award for the charter hiring of one 50 MT workover rig for use at the Ahmedabad Asset.

On April 11 this year, Aakash Exploration Services won a Rs 29 crore contract from Maharatna firm Oil India Limited, as well, for the provision of a high-pressure Mobile Boiler along with necessary accessories for the production of high-quality steam. The execution of this order is scheduled to take place over two years.

Net profit of Aakash Exploration Services crashed 92.02% to Rs 0.28 crore in the quarter ended March 2025 against Rs 3.51 crore in the quarter ending March 2024. Sales fell 16.57% to Rs 25.77 crore in the said quarter, down from Rs 30.89 crore in the previous quarter of March 2024.

Aakash Exploration Services is engaged in carrying on the business of transportation hire,technical services and common carries.