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Alphageo has gained about 18 per cent in a month's time and 9.30 per cent over a week's time.

According to brokers, the Union Cabinet is likely to announce the results of New Exploration Licensing Policy (NELP-VI) soon. This is going to present a good opportunity for a company such as Alphageo, which offers seismic data related services for oil exploration companies.

The company already plans to raise about Rs 7.5 crore through a preferential issue and also proposes to mobilise Rs 10-12 crore through debt to fund its capital expenditure plans for carrying out 3-D seismic study. Healthy order book coupled with expectation of good financial performance this quarter also appears to have triggered interest in the stock.

The company reported a net loss of Rs 2.3 crore for the quarter ended September 30, 2006.

K.S. Badri Narayanan

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