Deep Industries spurts on new order win

Deep Industries jumped 13.71% to Rs 87.90 at 09:56 IST on BSE after the company signed a contract with ONGC for hiring of Gas Dehydration System for five production installations for a period of three years.

The announcement was made after market hours yesterday, 29 June 2015.

Meanwhile, the S&P BSE Sensex was up 16.94 points or 0.06% at 27,662.09

On BSE, so far 2.78 lakh shares were traded in the counter as against average daily volume of 66,598 shares in the past one quarter.

The stock hit a high of Rs 91.40 and a low of Rs 85.80 so far during the day. The stock had hit a 52-week high of Rs 94.80 on 25 May 2015. The stock had hit a 52-week low of Rs 45 on 27 March 2015.

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

Deep Industries said that the company has signed the contract with ONGC for hiring of Gas Dehydration System for five production installations at their Rajahmundry Assets for a period of three years. The value of the contract is Rs 278.19 crore, Deep Industries said.

Deep Industries' net profit rose 11.6% to Rs 4.53 crore on 6.3% growth in total income to Rs 23.17 crore in Q4 March 2015 over Q4 March 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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