Rs 1,200 crore order book: This multibagger oil and gas field services company bags new order worth Rs 81,00,00,000 from Oil India Ltd
The stock has delivered a return of over 1,300 per cent to investors since it was listed on BSE and NSE on April 30, 2022.
Deep Industries Ltd has been awarded a contract by Oil India Limited, a domestic entity, for chartering a 1000 HP Mobile Rig package for operations in the Tulamara DSF Block, Tripura for a period of 2 years with a potential extension of 1 year. The contract, valued at approximately Rs 81,00,00,000, will see Deep Industries providing the mobile rig for drilling and workover jobs within the specified block.
Additionally, the company had signed a joint venture arrangement with Focus Energy Limited to carry out the business of providing field services such as higher capacity onshore drilling rig services in the oil and gas industry in India.
On Tuesday, shares of Deep Industries Ltd jumped 6.07 per cent to an intraday high of Rs 311.70 per share from its previous closing of Rs 292.85 per share. The stock gave multibagger returns of 110 per cent in just 1 year whereas the BSE Small-Cap index is up by 62 per cent.
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Deep Industries Ltd is in the business of oil and gas field services. The company specializes in providing air & gas compression services, drilling and workover services, gas dehydration services, etc. The company also provides integrated project management services.
According to the financials, the company has a market cap of Rs 1,936 crore and as of December 31, 2023, the company’s order book stands at Rs 1,200 crore. The company has reported positive numbers in its Quarterly Results (Q3FY24) and annual results (FY23). The stock has delivered a return of over 1,300 per cent to investors since it was listed on BSE and NSE on April 30, 2022. Investors should keep a close eye on this multibagger small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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