Asian Oilfield Services surged 9.25% to Rs 115.80 at 11:57 IST on BSE after the company said it has scheduled a board meeting on 27 December 2016, to consider allotment of warrants.
The announcement was made after market hours yesterday, 22 December 2016.Meanwhile, the S&P BSE Sensex was up 4.02 points or 0.02% at 25,983.62.
On the BSE, 97,000 shares were traded on the counter so far as against the average daily volumes of 1.73 lakh shares in the past two weeks. The stock had hit a high of Rs 119.90 and a low of Rs 105 so far during the day.
The stock had hit a 52-week high of Rs 124 on 14 December 2016 and a 52-week low of Rs 27.90 on 12 February 2016.
The allocation of warrants is subject to the company's shareholders' approval in its extraordinary general meeting (EGM) to be held on 23 December 2016.
Asian Oilfield Services reported consolidated net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Total income from operations declined 94.71% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.
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Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.
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