Rs 1,210 crore order book: This multibagger oil and gas field services company bags new orders worth Rs 82,00,00,000 from Oil and Natural Gas Corporation Ltd
The stock gave multibagger returns of 235 per cent in just 2 years and a whopping 560 per cent in 3 years.
Deep Industries Limited has secured two contracts from Oil and Natural Gas Corporation Limited (ONGC), a domestic entity, to provide one 100MT workover rig for Tripura and one 150MT workover rig for Rajahmundry on a charter hire basis for three years each. These contracts, valued at approximately Rs 82 crore, entail the provision of the specified workover rigs, along with necessary equipment and personnel, to ONGC for their operations in the designated locations.
The company has previously received a contract from Oil and Natural Gas Corporation Limited, located in Kakinada, to hire a DPDU (GDU) unit for gas processing services for a ten-month period. This domestic contract, valued at approximately Rs 56 crore, requires the company to provide the specified unit and its operation for gas processing as per the terms outlined by ONGC, with the contract duration commencing upon mobilization and operational start-up.
Today, shares of Deep Industries Ltd jumped 5.84 per cent to an intraday high of Rs 336.25 per share from its previous closing of Rs 292.85 per share. The stock gave multibagger returns of 235 per cent in just 2 years and a whopping 560 per cent in 3 years.
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Deep Industries Ltd is in the business of oil and gas field services. The company specializes in providing air & gas compression services, drilling and workover services, gas dehydration services, etc. The company also provides integrated project management services.
According to the financials, the company has a market cap of over Rs 2,000 crore and as of March 31, 2023, the company’s order book stands at Rs 1,210 crore. The company has reported positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The stock has delivered a return of over 1,500 per cent to investors since it was listed on BSE and NSE on April 30, 2022. Investors should keep a close eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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