NEW DELHI – Shares of
skyrocketed 12 per cent in early trade on Thursday after the company received a letter of award from GSPC LNG for the hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat, for five years. The total estimated value of the contract is approximate Rs 44.40 crore.
Deep Industries’ counter surged to a high of Rs 162.80 as against the previous close of Rs 145.25 on the National Stock Exchange.
The latest development comes on the back of the company bagging an order from Vedanta worth Rs 83.53 crore earlier this month.
According to reports, on December 17, Deep Industries received a letter of award (LoA) from Vedanta for its Integrated Oil & Gas facility to be placed in a single well pad at Jaya Field in Cambay Oalp Block –along with its operation and maintenance for a period of 3 years- for a total estimated value of approximately Rs 83.53 crore.
In the July-September quarter, Deep Industries’ net profit clocked in at Rs 21.33 crore as against a net loss of Rs 2.04 crore the same period a year ago.
The company’s net sales were at Rs 91.27 crore in July-September 2021, marking a 95.9 per cent growth from Rs 46.60 crore over the same period a year ago.
Deep Industries provides solutions in oil and gas field operations by catering to various equipment and services under rental and chartered-hire basis, reports said.
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NEW DELHI – Shares of skyrocketed 12 per cent in early trade on Thursday after the company received a letter of award from GSPC LNG for the hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat, for five years. The total estimated value of the contract is approximate Rs 44.40 crore. Deep Industries’ counter surged to a high of Rs 162.80 as against the previous close of Rs 145.25 on the National Stock Exchange. The latest development comes on the back of the company bagging an order from Vedanta worth Rs 83.53 crore earlier this month. According to reports, on December 17, Deep Industries received a letter of award (LoA) from Vedanta for its Integrated Oil & Gas facility to be placed in a single well pad at Jaya Field in Cambay Oalp Block –along with its operation and maintenance for a period of 3 years- for a total estimated value of approximately Rs 83.53 crore. In the July-September quarter, Deep Industries’ net profit clocked in at Rs 21.33 crore as against a net loss of Rs 2.04 crore the same period a year ago. The company’s net sales were at Rs 91.27 crore in July-September 2021, marking a 95.9 per cent growth from Rs 46.60 crore over the same period a year ago. Deep Industries provides solutions in oil and gas field operations by catering to various equipment and services under rental and chartered-hire basis, reports said. (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.) Download The Economic Times News App to get Daily Market Updates & Live Business News.