On July 17, shares of Alphageo India, an integrated seismic service provider, rallied up to 3.38% after the company secured a contract from Oil and Natural Gas Corporation (ONGC) to acquire seismic data for the drilling of wells along the Ganga basin for Rs 39.36 crore.

At 12:10 pm, the shares were trading at Rs 288 a piece, up by 4.01% from the previous close on NSE. The market cap of the company rose to Rs 183.31 crore.

“Alphageo Limited is in receipt of Award of Contract from ONGC, Dehradun, for Seismic Data Acquisition to acquire 303 SKM of 3D Seismic Data in OALP Block GVONHP2021/2 Sector 2 of Ganga Basin in the state of Uttar Pradesh and Bihar,” the company said in a regulatory filing.

The deadline for the said contract is to be completed by March 2024, according to the company.