Deep Industries advances after reporting strong Q4 earnings

Deep Industries spurted 4.97% to Rs 330.30 at 14:17 IST on BSE after net profit spurted 81.2% to Rs 23.23 crore on 36.46% increase in total income from operations to Rs 74.89 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 2 May 2017.

Meanwhile, the S&P BSE Sensex was down 1.66 points, or 0.01% at 29,916.74. The S&P BSE Small-cap index was up 30.19 points, 0.2% at 15,402.70.

On the BSE, 2.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past one quarter. The stock had hit a high of Rs 339.70 and a low of Rs 318.50 so far during the day.

The stock had hit a record high of Rs 343.70 on 30 March 2017 and a 52-week low of Rs 155.85 on 24 May 2016. The stock had underperformed the market over the past one month till 28 April 2017, declining 2.52% compared with the Sensex's 1.73% rise. The scrip had also underperformed the market over the past one quarter advancing 2.68% as against the Sensex's 7.3% rise.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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