Dynamic Levels research report on Deep Industries
Deep Industries has strengthened themselves in providing complete Rig Package with all associated equipment and services to onshore Oil and Gas Industry. Company’s current fleet includes 6 Air Compressors & 40 Natural Gas Compressors range from 50 HP to 2000 HP and presently they are compressing around 34,00,000 cubic meter of gas per day. Deep Industries Limited is definitely a “one stop solution” for all needs in oil and gas field operations. Deep Industries has been awarded three Onshore Marginal Fields by Oil and Natural Gas Corporation Limited ("ONGC"), for a period of 17 years starting from FY '07, as a part of its "Marginal Field Monetization Program". The company currently has 7 Exploration & Production assets in India and 1 Coal Bed Methane asset in Indonesia with two other prospective assets expected to be awarded soon. Company has posted very good numbers in FY16 in which sales has surged 67.50%annually. Net profit has almost doubled from Rs. 21.23crs to Rs. 40.95crs. Deep share Price has surged almost 48.65% in 5 months from low of 117.35 giving momentum to the stock.
We recommend BUY in Deep Industries @ 168.50 with the target of 197.
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