Deep Industries is buzzing on the back of some good volumes, opening over 3.5% higher at Rs.194.95 and rising more than 10% to hit an intraday high at Rs.206.95. Its 52-week high stands at Rs.288.70.
It is an offshore private sector company but almost all its orders are mostly thanks to ONGC. Apart from drilling and rigging services, the company forayed into Exploration and Production segment. It was also awarded one Onshore Coal Bed Methane Block in Indonesia.
The company is in the limelight today after it received a LoA from ONGC for Rs.150 crore.
This order is for charter hiring of two, 1000 HP Mobile Drilling Rigs for Ahmedabad Asset for a period of 3 years.