Rs 1,246 crore order book: This multibagger oil and gas field services company bags new order worth Rs 63,00,00,000 from Oil and Natural Gas Corporation Ltd
The stock has delivered a return of 1,794.4 per cent to investors since it was listed on BSE and NSE on April 30, 2022.
Deep Industries Limited has secured a significant contract from Oil and Natural Gas Corporation Limited (ONGC) for the provision of a skid-mounted modular gas separation system and gas compression units, along with their operation and maintenance at the Rokhia GCS Tripura Asset. The three-year contract, valued at approximately Rs 63 crore, entails the installation and management of advanced equipment to efficiently process and compress natural gas. This strategic partnership with ONGC underscores Deep Industries Limited's expertise in the energy sector and strengthens its position as a reliable provider of innovative solutions.
On Monday, shares of Deep Industries Ltd jumped 6.21 per cent to an intraday high & 52-week high of Rs 389.85 per share from its previous closing of Rs 367.05 per share. The stock gave multibagger returns of 255 per cent in just 2 years and a whopping 445 per cent in 3 years.At the closing bell, shares of the company were trading at Rs 378.05 per share, up 3 per cent with a spurt in volume by more than 1.01 times on BSE.
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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 2,400 crore and as of March 31, 2023, the company’s order book stands at Rs 1,246 crore as of June 30, 2024. The company has reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). The stock has delivered a return of 1,794.4 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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