Deep Industries shares rise 5% in trade; here's what's driving stock
Earlier in April, Deep Industries had announced that it had received a letter of award from ONGC for production enhancement operations in the Mature Fields at the Rajahmundry Asset
 "Deep Industries shares rise 5% in trade; here's what's driving stock")
Deep Industries shares rose 5 per cent on the BSE, logging an intra-day high at ₹463 per share. The buying interest came after the company informed about an update on order received from Oil and Natural Gas Corporation (ONGC).
At 10:52 AM, Deep Industries’ share price was trading 1.4 per cent higher at ₹447 per share on BSE. In comparison, the BSE Sensex was down 0.39 per cent at 84,808.73.
The company has a total market capitalisation of ₹2,860.8 crore. Its 52-week high was at ₹624.5, and its 52-week low was at ₹386.
Earlier in April, Deep Industries had announced that it had received a letter of award from ONGC for production enhancement operations in the Mature Fields at the Rajahmundry Asset for a period of 15 years.
The contract is now transfered to Deep Industries' arm, Deep Exploration Services, with an intention to achieve improved focus and accountability towards the effective execution of the contract. For this, Deep Industries signed a tripartite assignment with ONGC and Deep Exploration Services.
This is further to our disclosure dated September 7, 2024 and April 3, 2025, regarding receipt of Letter of Award from Oil and Natural Gas Corporation Limited (ONGC)... we further wish to inform that, the Company has entered into a Tripartite Addendum/Deed of Assignment with ONGC, and Deep Exploration Services Private Limited (DESPL), wholly owned (100 per cent) subsidiary for assigning this contract in favour of the DESPL with an intention to achieve improved focus and accountability towards effective execution of contract,” the filing read.
Deep Industries, a seasoned provider of Oil & Gas support services for over 30 years, offers a comprehensive range of solutions. Their services include Natural Gas Compression, Natural Gas Dehydration, Workover and Drilling Rigs, and Integrated Project Management.
The company boasts a wide array of equipment and skilled personnel, ensuring quality and safety across all service areas.
ONGC specialises in the exploration and production of crude oil and natural gas. It is the largest producer of crude oil and natural gas in India, contributing around 70 percent of Indian domestic production,according to its website.