Deep Industries surges 13.59% in two days after new order win

Deep Industries gained 7.07% to Rs 178.80 at 14:21 IST on BSE, with the stock extending yesterday's rally triggered by receiving notification of award for hiring of natural gas compression services at CTF Ankleshwar.

Meanwhile, the S&P BSE Sensex was up 14.43 points or 0.06% at 24,868.54

On BSE, so far 3.77 lakh shares were traded in the counter as against average daily volume of 1.44 lakh shares in the past one quarter. The stock hit a high of Rs 184.40 and a low of Rs 158.10 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 13 January 2016, falling 11.26% compared with 0.76% fall in the Sensex. The stock also underperformed the market in past one quarter, sliding 12.88% as against Sensex's 7.42% decline.

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

Shares of Deep Industries jumped 6.1% to settle at Rs 167 yesterday, 13 January 2016 after the company announced after market hours on 12 January 2016 that it 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. The stock gained 13.59% in two trading days from a recent low of Rs 157.40 on 12 January 2016.

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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