Meanwhile, the S&P BSE Sensex was up 118.31 points, or 0.40% to 29,450.47.

On the BSE, 66,000 shares were traded in the counter so far, compared with average daily volumes of 1.46 lakh shares in the past one quarter. The stock had hit a low of Rs 227.50 so far during the day. The stock hit a 52-week high of Rs 249 on 20 March 2017. The stock hit a 52-week low of Rs 29.70 on 29 March 2016.

The stock had outperformed the market over the past one month till 23 March 2017, rising 39.20% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 98.19% as against Sensex's 12.64% rise.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services said it received a letter of award of contract worth Rs 108.97 crore from ONGC for 2D seismic data acquisition in unappraised on land areas of sedimentary basins of India for Sector 6 (Ganga). The company has acknowledged the receipt of this letter of award and has initiated the process of execution and acceptance of contract for the same.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 2.53 crore in Q3 December 2016, higher than net loss of Rs 20.05 crore in Q3 December 2015. Net sales rose 38.24% to Rs 16.63 crore in Q3 December 2016 over Q3 December 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.