Deep Industries up 7% on ₹97 cr order from Oil India
In a significant development, Deep Industries, a small-cap company, has received a massive ₹97 crore contract from Oil India Ltd for providing a workover rig on charter hire. This long-term deal is expected to strengthen the company’s presence in the oilfield services sector. As a result, the stock of Deep Industries jumped 7% on the news, sending a positive signal to investors.
The project, which will span over seven years, will be carried out in Assam and Arunachal Pradesh. This significant order is a testament to the company’s capabilities and expertise in providing oilfield services. The deal is expected to have a positive impact on the company’s revenue and profitability, making it a significant win for Deep Industries.
For those who may not be familiar with Deep Industries, the company is engaged in the business of providing oilfield services, including drilling, workover, and well completion services. The company has a strong presence in the oilfield services sector, with a focus on providing high-quality services to its clients.
The contract from Oil India Ltd is a significant milestone for Deep Industries, and it is expected to provide a steady stream of revenue for the company over the next seven years. The deal is also expected to strengthen the company’s presence in the oilfield services sector, making it a more attractive option for investors.
The oil and gas industry has been facing significant challenges in recent years, including declining production and increasing costs. However, companies like Deep Industries, which provide oilfield services, are well-positioned to benefit from the increasing demand for oil and gas. The contract from Oil India Ltd is a testament to the company’s ability to adapt to changing market conditions and provide high-quality services to its clients.
In addition to the contract from Oil India Ltd, Deep Industries has also received several other orders in recent months. The company has been expanding its operations in recent years, and it has established a strong presence in the oilfield services sector.
The company’s strong order book and its ability to secure large contracts like the one from Oil India Ltd are expected to drive its growth in the coming years. The deal is also expected to provide a steady stream of revenue for the company, making it a more attractive option for investors.
In conclusion, the contract from Oil India Ltd is a significant milestone for Deep Industries, and it is expected to provide a steady stream of revenue for the company over the next seven years. The deal is also expected to strengthen the company’s presence in the oilfield services sector, making it a more attractive option for investors.
About the Author
The author is a seasoned financial journalist with over a decade of experience in covering the Indian stock market. He has a deep understanding of the Indian economy and the stock market, and has been writing about the markets for various publications and websites.
Source
https://tradebrains.in/smallcap-stock-jumps-7-after-receiving-97-cr-order-from-oil-india/
