This small-cap offshore oilfield services stock surged over 53% in six months; what lies ahead?

Shares of a small-cap offshore oilfield services company have surged over 53 per cent in the past six months. The stock in focus is SEAMEC Ltd, a subsidiary of HAL Offshore Ltd, which holds a 70.77 per cent promoter stake in the company.

At last check, SEAMEC shares were down 4.15 per cent at Rs 1,238 in Friday's trade. Despite this, the stock has climbed 53.41 per cent over the past six months. The company is set to announce its December 2025 quarter (Q3 FY26) results later today.

Commenting on the outlook, Ravi Singh, Chief Research Officer at Mastertrust, said, "SEAMEC is supported by a strong order book, increasing offshore energy activity, better utilisation levels and robust backing from its parent, HAL Offshore, which lends visibility to its medium-term earnings."

From a technical standpoint, some analysts noted that the counter appeared overbought on charts and the Rs 1,326-1,420 zone would act as near-term resistance.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, "SEAMEC has witnessed a spectacular surge in the week, gaining nearly 14 per cent, backed by volumes. The counter has entered the overbought terrain, but the momentum is likely to persist. The counter has a strong support near Rs 1,200-1,180 subzone, while 1,400-1,420 seems potential resistance in the near period.

According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "SEAMEC's stock is bullish and also overbought on daily charts with the next resistance at Rs 1,326. Investors should be booking profits at current levels as a daily close below support of Rs 1,209 could lead to a downward target of Rs 1,020 in the near term."

The stock is trading above 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs). The 14-day Relative Strength Index (RSI) stands at 69.83. A level below 30 is defined as oversold, while a value above 70 is considered overbought.

BSE data shows that SEAMEC is trading at a standalone and consolidated price-to-earnings (P/E) ratio of 27.43 and 35.85, respectively, with a price-to-book (P/B) value of 3.40. The company reported standalone and consolidated earnings per share (EPS) of 45.17 and 34.55, while its return on equity (RoE) stood at 12.41.

According to Trendlyne, the stock has a one-year beta of 0.42, indicating low volatility.