Shares of Deep Industries rose nearly 2% to ₹459 on the NSE during Thursday’s session, following the company’s announcement of a contract win from Oil India Limited.
The company secured a Letter of Award from Oil India for hiring one Mobile Workover Rig Package for its operations in Rajasthan. The contract is valued at approximately ₹45.33 crore and will be executed over a period of three years. Deep Industries clarified that this project falls under its ordinary course of business and does not involve any related party transactions.
As of Thursday morning, the stock traded between ₹454 and ₹459.70, with a market capitalization of ₹2,938 crore. The fresh order from Oil India has boosted investor sentiment and added to the stock’s recent momentum.
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