08 May 2025

Jindal Drilling Gains as Company Secures ONGC Contract for Rig Deployment

Jindal Drilling & Industries is trading at RS. 632.90, rising by 7.50 points or 1.20% from its previous close of RS. 625.40 on the BSE.

The stock opened at RS. 634.00 and recorded an intraday high of RS. 648.00 and a low of RS. 629.35. A total of 18,340 shares have been traded so far.

A BSE group 'B' stock with a face value of RS. 5, Jindal Drilling hit a 52-week high of RS. 990.50 on February 6, 2025, and a 52-week low of RS. 519.90 on June 4, 2024. Over the past week, the stock ranged between RS. 673.85 and RS. 603.00. The company's market capitalization currently stands at RS. 1833.34 crore.

The shareholding pattern reveals promoters holding 64.25%, institutions 3.00%, and non-institutions 32.75%.

The company recently received a Notification of Award from Oil & Natural Gas Corporation (ONGC) for the deployment of its rig, Jindal Explorer, for a duration of three years at an Effective Day Rate (EDR) of $35,138.71.

The current contract for Rig Jindal Explorer is anticipated to conclude in Q1FY26, with the new contract expected to begin in Q3FY26.

Jindal Drilling & Industries is a prominent drilling contractor in India, offering services to both domestic and international exploration and production (E&P) companies.