Deep Ind down 3% on reporting gas leak at a unit in Andhra Pradesh

Deep Industries shares slipped 2.9 per cent, logging an intra-day low at ₹420.5 per share on BSE. The selling pressure on the counter came after the company reported a gas leak at Well Mori #5, Andhra Pradesh. 

 

At 9:30 AM, Deep Industries’ share price was trading 2.56 per cent lower at ₹422.25 on the BSE. In comparison, the BSE Sensex was down 0.4 per cent at 85,086.4. The stock commands a market capitalisation of ₹2,693.12 crore, with a 52-week high at ₹624.5 and a 52-week low at ₹386.

 

“Please note that an incident of gas leak during the workover operations was reported at Well Mori #5, Andhra Pradesh, operated by Deep Industries Limited (DIL) under ONGC’s production enhancement activities,” the filing read. 

 

 

According to the filing, Well Mori #5 is operated by Deep Industries under ONGC’s production enhancement activities. Immediately after re-perforating, the well kicked and uncontrolled flow was observed. The reservoir was tested earlier, and accordingly, all safety measures were taken prior to carrying out re-perforations. Deep Industries and ONGC’s senior teams are on the job for controlling the well. 

 

That apart, in December 2025, the company transferred a contract from ONGC for production enhancement operations in the Mature Fields at the Rajahmundry Asset for a period of 15 years to its arm, Deep Exploration Services. The intention behind the transfer was 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.   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. 

 

Deep Industries specialises in providing Air and Gas compression services, drilling and workover services, gas dehydration services, and also has expertise in Integrated Project Management Services.

 

The company has grown up to be a "One Stop Solution" provider for every need in Oil and Gas field operations by providing various equipment and services under a rental and chartered-hire basis. Its comprehensive portfolio includes various machines, equipment, and tools to be used in the Oil and Gas Industry, from exploration & production services to midstream services.