970 per cent returns in this multibagger stock: This small-cap company receives order worth Rs 130 crore from ONGC!

The stock gave multibagger returns of 120 per cent in just 1 year whereas the BSE Small-cap index is up by 29.93 per cent.

Deep Industries Ltd announced that the company has received an order worth Rs 130 crore from Oil and Natural Gas Corporation Limited (ONGC). The order is for the Charter Hiring of 1 number of 90 MT Mobile Drilling Rigs for ONGC Bokaro and to provide a complete drilling rig and equipment conforming to the broad and general standards as mentioned in the technical specifications of the tender document. The order will be completed in 3 years from the commencement date of the contract.

On Thursday, one of the Top Gainers on BSE, shares of Deep Industries Ltd jumped 12.07 per cent to make a new 52-week high of Rs 220.05 from its previous closing of Rs 196.35. At the closing bell, shares of the company were trading at Rs 203.45 per share, up 3.62 per cent with a spurt in volume by more than 3.97 times on BSE. The stock gave multibagger returns of 120 per cent in just 1 year whereas the BSE Small-Cap index is up by 29.93 per cent.

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 Rs 1,300 crore. The company has reported amazing numbers in its Quarterly Results (Q4FY23) and annual results (FY23).  

The stock has delivered a return of 970 per cent to investors since it was listed on BSE and NSE on April 30, 2022. This means that an investor who bought the stock on the day of listing and held it until today would have seen their investment grow by more than 9 times. Investors should keep a close eye on this small-cap stock.