Deep Industries shares climbed 5% in morning trade after the company secured a fresh order from Oil India Limited. The Letter of Award covers the charter hire of a brand-new workover rig, which will be deployed across Assam and Arunachal Pradesh.
The contract is valued at around ₹96.72 crore and spans a tenure of seven years. It is a domestic order with no promoter or related-party involvement, confirming that the deal is fully at arm’s length.
This order gives a meaningful boost to Deep Industries’ presence in the oilfield services space and is expected to strengthen its long-term revenue visibility. The rig will support Oil India’s operations in the northeast, a key exploration and production zone.
Deep Industries shares opened at ₹500.00 and moved between ₹493.35 and ₹509.00 during the day. The stock had closed at ₹481.95 in the previous session. Over the past year, it has traded between ₹297.65 and ₹624.40.
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