Shares Deep Industries were up 9 percent in early trade on September 25 after the company received the Letter of Award (LoA) from Oil and Natural Gas Corporation (ONGC).
At 9:45am, Deep Industries was quoting at Rs 265.95, up Rs 9.50, or 3.70 percent.
The company has received LoA for charter hiring of HP compressors at GCP Geleki, Assam, for a period of three years. The total estimated value of the said award is approximately Rs 108 crore.
The company shall provide HP compressors comprising two running and one standby unit.
The said order is to be executed in three years from the date of mobilisation.
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In July, the company had received the LoA from ONGC for Charter Hiring of a 90-million tonne mobile drilling rigs with integrated mud services and METP with manpower for a period of three years for CBM Asset, Bokaro. The total estimated value of the said award was Rs 130 crore.
The company has posted 60 percent jump in its June quarter net profit at Rs 31.20 crore.
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