South West Pinnacle Exploration Secures Over ₹ 22.68 Crores in New Exploration and Drilling Work Orders
South West Pinnacle Exploration Limited (SWPE) has been awarded three Letters of Award (LOA) and Work Orders, totaling over ₹ 22.68 Crores (including GST). These contracts are for providing exploration, drilling, and related support services across the states of Odisha and Rajasthan.The awarded contracts involve work from two major clients: Odisha Lift Irrigation Corporation Ltd and Hindmetal Exploration Services Private Ltd.
The financial details of the work orders are as follows:
| Client/Issuing Body | State | Service Type | Approximate Value (Including GST) |
|---|---|---|---|
| Odisha Lift Irrigation Corporation Ltd | Odisha | Installation of deep borewells for Solar Pumping system (Two LOAs) | ₹9.68 Crores |
| Hindmetal Exploration Services Private Ltd | Rajasthan | Exploration, drilling, and support services | ₹13 Crores |
| Total Value | Over ₹ 22.68 Crores |
The LOA received from Odisha Lift Irrigation Corporation Ltd comes from a State Public Sector Undertaking (PSU) operating under the Government of Odisha. Meanwhile, Hindmetal Exploration Services Private Ltd, which is a 100% subsidiary of M/s Hindustan Zinc Limited, issued the work order for services in Rajasthan.
SWPE anticipates completing the execution of all three Letters of Award and work orders during the current financial year.
SOUTHWEST Stock Price Movement
On Monday, South West Pinnacle Exploration Limited shares edged higher, closing at ₹221.83, representing a notable 2.33% gain. The stock saw significant trading activity, with a total volume of 274,041 shares supporting the upward momentum throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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