Assam Company India was locked at 20% upper circuit at Rs 4.88 at 11:00 IST on BSE after it has entered into an agreement on 23 December 2014, with ONGC for their investment in the Amguri field for and on behalf of Government of India.
The company made announcement after market hours on Friday, 26 December 2014.
Meanwhile, the S&P BSE Sensex was up 200.22 points or 0.73% at 27,441.99.
On BSE, so far 10.06 lakh shares were traded in the counter as against average daily volume of 2.86 lakh shares in the past one quarter.
The stock hit a high of Rs 4.88 and a low of Rs 4.60 so far during the day. The stock hit a 52-week high of Rs 8.50 on 10 June 2014. The stock hit a 52-week low of Rs 3.88 on 17 December 2014.
The stock had underperformed the market over the past one month till 26 December 2014, declining 11.33% compared with Sensex's 4.03% fall. The scrip had also underperformed the market in past one quarter, falling 8.33% as against Sensex's 2.31% rise.
The small-cap company has equity capital of Rs 30.98 crore. Face value per share is Re 1.
In terms of Government of India (GOI) letter dated 2 January 2013, Assam Company India (ACIL) will operate with 40% participating interest (PI) and ONGC will invest 60% for PI for and on behalf of GOI in the operation of Amguri field.
Assam Company India's net profit fell 33.7% to Rs 22.49 crore on 6.1% decline in total income to Rs 81.38 crore in Q3 September 2014 over Q3 September 2013.
Assam Company India is a group comprising of companies engaged in Tea plantation, Oil & Gas exploration and Infrastructure development.
Powered by Capital Market - Live News
