Deep Industries soars on bagging contract

The shares of Deep Industries ascended 11 per cent after the company secured a contract worth Rs. 3.12 crore from ONGC. The scope of services involves rig work over a period of 1 year for ONGC's Cambay Asset.

Deep Industries operates in various segments of the Oil & Gas industry. It is the first company in India to provide Air & Natural Gas Compressor services on a chartered hire basis. Moreover, the company offers Workover & Drilling Rig services and has also ventured into the Exploration & Production segment. Deep Industries caters to the Oil & Gas field operations by supplying equipment and services on either rental or chartered-hire basis.

On Thursday, the shares of Deep Industries opened at Rs. 141.00 per share, and hit a high and low of Rs. 155.20 per share and Rs. 137.00 per share, respectively. The stock closed at Rs. 147.00, up 5 per cent. Meanwhile, the shares of ONGC opened at Rs. 144.00 per share and hit a low of Rs. 138.00 per share. ONGC was among the top losers on BSE Sensex. The stock closed at Rs. 140.75 per share, down 1.33 per cent.