Deep Industries spurts after new order win

Deep Industries gained 8.64% to Rs 171 at 10:50 IST on BSE, after the company received notification of award for hiring of natural gas compression services at CTF Ankleshwar.

Meanwhile, the S&P BSE Sensex was up 197.85 points or 0.8% at 24,879.88

On BSE, so far 1.07 lakh shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter. The stock hit a high of Rs 174 and a low of Rs 157.60 so far during the day. The stock had hit a 52-week high of Rs 215.70 on 19 November 2015. The stock had hit a 52-week low of Rs 45 on 27 March 2015. The stock had underperformed the market over the past one month till 12 January 2016, falling 16.37% compared with 1.45% decline in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 16.68% as against Sensex's 8.26% decline.

The small-cap company has equity capital of Rs 29.20 crore. Face value per share is Rs 10.

Deep Industries announced after market hours yesterday, 12 January 2016, that the company has received notification of award for hiring of natural gas compression services at CTF Ankleshwar for a capacity of 1 LSCMD and period of one year. The total value of award is Rs 7.26 crore, Deep Industries said.

Deep Industries' net profit surged 50.6% to Rs 8.01 crore on 34.6% growth in net sales to Rs 34.24 crore in Q2 September 2015 over Q2 September 2014.

Deep Industries is a diversified oil & gas company with business interest in air and gas compression, drilling and work over operations. The company is also into oil & gas exploration and production.

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