Jindal Drilling & Industries rose 3.51% to Rs 100.40 after the company said that its rig has commenced operation from 21 January under the contract awarded by ONGC.
Shares of Jindal Drilling & Industries fell 4.76% in the past four trading sessions to settle at Rs 97 yesterday, 22 January 2020, from its close of Rs 101.85 on 16 January 2020.
The stock surged 33.77% in a month. On the technical front, the stock's RSI (relative strength index) stood at 63.603. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
On a consolidated basis, Jindal Drilling & Industries reported net loss of Rs 25.11 crore in Q2 September 2019 as against net profit of Rs 14.99 crore in Q2 September 2018. Net sales declined 13.04% to Rs 44.36 crore in Q2 September 2019 over Q2 September 2018.
Jindal Drilling & Industries is engaged in providing services to entities involved in exploration of oil and gas.
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