Massive Breakout Alert: Small-Cap Stock Splits Shares and Skyrockets to Record 52-Week High!

Shares of this company gained more than 20 per cent in the last one month.

Deep Industries Limited was incorporated in 1991, the company is engaged 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.  

The company recently received a Letter of Award from Oil and Natural Gas Corporation for a work order worth Rs 106 crore. The work order involved providing mobile drilling Rigs of 1000 HP and equipment together with providing manpower in terms of roustabouts etc for maintaining the mud systems as per the requirement of the job. 

The board of the company recently approved to subdivide/split the equity shares of the company such that 1 (One) Equity Share having a face value of Rs 10 would be subdivided into 2 (Two) equity Shares having a face value of Rs 5 each. On Friday, the shares of Deep Industries Limited made a new 52-week high, gaining more than 5 per cent in the morning trade.     

On Friday, the stock opened at Rs 151.80, with a high and low of Rs 161.85 and Rs 150.60. The stock closed trading at Rs 166.80, up by 9.77 per cent over its previous close of Rs 151.95. The company achieved ROE and ROCE of 6.49 per cent and 8.32 per cent in FY22. The company has a market capitalisation of Rs 1,018.24 crore.