This small-cap company from the oil and gas space received a work order from ONGC worth Rs 106 crore!

Shares of the company have gained more than 60 per cent in a year.

On February 23, 2023, Deep Industries Limited informed in the exchange filing that the company received a Letter of Award from Oil and Natural Gas Corporation Limited on 22 February 2023 for hiring 1 number of 1000 HP mobile drilling rigs for the Ahmedabad asset for 3 years. The total estimated value of the said award is approximately USD 12.93 million equivalent to approximately Rs 106 crore.

Incorporated in 1991, Deep Industries Limited is in the business of Oil and Gas field services. The company specialises in providing air & gas compression services, drilling and workover services, gas dehydration services, etc. The company also provides integrated project management services.

Today, the stock opened at Rs 275, with a high and low of Rs 279.60 and Rs 275. The stock is currently trading at Rs 276.65, up by 0.78 per cent. 

In the last 6 months, the shares of the company have given 30 per cent returns and on a YTD basis, the stock has given about -4 per cent returns.

The stock has a 52-week high of Rs 322.50 and a 52-week low of Rs 165. The company has a ROCE of 8.32 per cent and an ROE of 6.49 per cent, with a market capitalisation of Rs 885 crore.