Introduction:
Mining stock has secured a ₹158 crore contract extension for CBM production drilling, doubling operations and boosting revenue. With a record order book, it strengthens its position as a key player in India’s energy and mining sectors.
Share Price movement of South West Pinnacle Exploration:
On December 30, 2024, South West Pinnacle Exploration Ltd’s current price is ₹157.81. The stock hit an intraday high of ₹165.27 and low of ₹151.99, rising 9.00% from its previous close of ₹150.25, with a market cap of ₹440.33 crore.
South West Pinnacle Exploration share price rise:
South West Pinnacle Exploration Limited (SWPE) has secured an extended ₹158 crore contract from Reliance Industries Ltd for Coal Bed Methane (CBM) production drilling in Madhya Pradesh. The extension doubles current operations, adding rigs, manpower, and potential further six-month extensions.
Chairman Vikas Jain highlighted this development as a significant boost to the company’s order book, now at an all-time high of ₹495 crore across 15 projects nationwide. He emphasized the extension’s role in enhancing revenue, supporting medium to long-term growth, and advancing SWPE’s strategic vision.
Joint Managing Director Piyush Jain expressed confidence in executing the extended project, generating additional revenue from Q2 FY2025-26. This marks a historic milestone for SWPE, with all business domains operating simultaneously, reflecting strong team efforts and stakeholder support.
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Recent news About South West Pinnacle Exploration:
South West Pinnacle Exploration Limited announced on December 19, 2024, that it secured a ₹60 crore Letter of Award from Oil India Limited to provide Passive Seismic Tomography (PST) services, enhancing its presence in advanced energy exploration solutions.
Ace investor holding in South West Pinnacle Exploration:
Rajan Brijmohan
Rajan Brijmohan Kapur holds 6,29,561 shares of South West Pinnacle Exploration Ltd., valued at ₹9.9 crore, at a current price of ₹157.98 per share, reflecting strong confidence in the company’s growth potential.
Stock performance of South West Pinnacle Exploration for Period of 1 week, 6 months and 1 year:
South West Pinnacle Exploration’s stock performance over the past week shows a 0.90% decline, a 17.3% gain over six months, and a 13.0% drop over the last year, reflecting mixed trends across different timeframes for investors.
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Shareholding pattern of South West Pinnacle Exploration:
All values in % | Sep-24 | Jun-24 | Mar-24 |
Promoters | 73.61 | 73.61 | 73.61 |
FII | 0.36 | 0 | 0.01 |
DII | 0 | 0 | 0.11 |
Retail & others | 26.02 | 26.39 | 26.27 |
About South West Pinnacle Exploration:
South West Pinnacle Exploration is a leading drilling and exploration service provider, specializing in coal, minerals, CBM production, and aquifer mapping. It operates nationwide, offering end-to-end solutions with advanced technology to support India’s energy and resource sectors.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.