New order boosts Deep Inds

Deep Industries surged 5.83% to Rs 158 at 12:17 IST on BSE after the company said it has secured a contract worth about Rs 7.79 crore from ONGC.

The announcement was made during market hours today, 22 April 2016.

Meanwhile, the S&P BSE Sensex was up 1.32 points or 0.01% at 25,881.70.

On BSE, so far 3.87 lakh shares were traded in the counter as against average daily volume of 95,980 shares in the past one quarter. The stock hit a high of Rs 161.90 and a low of Rs 146.50 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 61 on 7 May 2015. The stock had outperformed the market over the past one month till 21 April 2016, gaining 7.1% compared with Sensex's 2.35% rise. The scrip had, however, underperformed the market in past one quarter, sliding 13.35% as against Sensex's 8% rise.

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

Deep Industries said it has received a notification of award for hiring of natural gas compression services at ONGC, GGS-IV Ankleshwar for a capacity of 80,000 SCMD for a period of three years. The total value of the contract is about Rs 7.79 crore.

Deep Industries' net profit rose 139.1% to Rs 13.34 crore on 102% growth in net sales to Rs 52.69 crore in Q3 December 2015 over Q3 December 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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