Deep Industries skyrockets ~8% on bagging order worth Rs150.24 crore from ONGC

7 Jul 2022 , 09:19 AM

Deep Industries Limited informed that it has received a Letter of Awards (LoA) from ONGC Limited for charter hiring of 02 Nos, of 1000 HP Mobile Drilling Rigs for Ahmedabad Asset for a period of 3 years.

The company estimates the value of such Awards at USD 19.02 million equivalent to approximately Rs150.24 crore.

Deep Industries is a leading player in the service sector of Oil & Gas fields, and mainly Gas Compression. It is India’s largest private sector company, operating the most compressors and stocking more than 20 gas and air compressors.

They also offer work-over, drilling rig, and other related services. The company was founded primarily to provide valued, dedicated, and professional services to Indian oil and gas clients.

At around 9.22 AM, Deep Industries’ counter rallied 7.69% at Rs202.95 against its previous close of Rs188.45 on NSE. It opened at Rs194.85 and so far hit intraday high of Rs206.75.