Deep Industries in limelight

Deep Industries is doing well today; from its close of Rs256.45, it opened higher at Rs.261.90 and rose to an intraday high ay Rs.279.70, which is not too far from its 52-week high of Rs.281.60.

The stock price rose after the company announced that it has received the Letter of Award (LoA) from Oil and Natural Gas Corporation (ONGC).

This LoA is for charter hiring of HP compressors at GCP Geleki, Assam, for a period of three years and the total estimated value of the order is Rs.108 crore.

The company shall provide HP compressors comprising two running and one standby unit and to be executed in three years from the date of mobilisation.