20 Dec 2024

Deep Industries Gains Momentum After Securing Rs 62 Crore Contract

Deep Industries' stock witnessed a rise, trading at Rs 612.95 on the BSE, marking an increase of 1.79% or 10.75 points from its previous close of Rs 602.20.

The share opened at Rs 613.70, reaching a high of Rs 618.20 and a low of Rs 606.20 during the session. A total of 1,680 shares have been traded so far.

The stock, with a face value of Rs 5 in the BSE 'B' group, achieved a 52-week high of Rs 620.00 on December 18, 2024, and a low of Rs 226.85 on February 13, 2024. Over the past week, it ranged between Rs 620.00 and Rs 570.95. The company’s market capitalization currently stands at Rs 3,854.08 crore.

Promoters hold a 63.49% stake in the company, while Institutions and Non-Institutions own 2.08% and 34.43%, respectively.

Deep Industries recently secured a Letter of Award (LoA) worth Rs 62 crore from Selan Exploration Technology for Integrated Drilling Services at Selan-operated blocks over the next 18 months. Earlier in September, the company had won a Rs 1,402 crore order from ONGC.

As a prominent player in the energy sector, Deep Industries specializes in Air and Gas Compression, Drilling and Workover Services, Gas Dehydration, and Integrated Project Management Services.