Deep Industries was up over 7% intra day at Rs.172, with volumes at around 37,000 shares. Its 52-week high and low stands at Rs.215.70 and Rs.45 respectively.

The stock is in the limelight today as the company informed that it has received a letter from ONGC on 5^th of Jan stating that the PSU has received the approval of Ministry of Petroleum and Natural Gas (MoP&NG) for transfer of 25% Participating Interest (PI) along with Joint Ownership to Prabha Energy, a subsidiary of Deep Industries.

Deep Industries is a diversified oil & gas company with business interest in air and gas compression, drilling and work over operations.  It had ended Q2FY16 with a 51% (YoY) rise in net profit at Rs.8 crore on a 35% increase in net sales at Rs.34 crore.