Rs 2,967 Crore Order Book; Oil & Gas Services Provider Bags Rs 59 Crore Contract from ONGC; Share Price Jumps 6.83%

DSIJ Intelligence/ 07 Apr 2026 /Categories: Mindshare, Trending

Rs 2,967 Crore Order Book; Oil & Gas Services Provider Bags Rs 59 Crore Contract from ONGC; Share Price Jumps 6.83%

Deep Industries secures Rs 59 crore ONGC contract for gas compression and dehydration services at Rajahmundry Asset for three years.

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On Tuesday, Indian markets opened on a positive note and ended the session higher, with the Nifty 50 rising 0.68 per cent to settle at 23,123.65. Amid this broader strength, Deep Industries share price closed at Rs 476.15, up 6.83 per cent from the previous close of Rs 445, following the company’s announcement of securing a contract worth Rs 59 crore from ONGC.

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Deep Industries Secures Rs 59 Crore ONGC Contract for Gas Compression and Processing Services

Deep Industries has received a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC) for the hiring of natural gas compressor, gas dehydration, and hydrocarbon (HC) dew point depression services at Malleswaram under ONGC’s Rajahmundry Asset.

The contract, awarded by a domestic entity, is valued at approximately Rs 59 crore and has a tenure of three years. The scope of work includes providing gas compression, dehydration, and hydrocarbon dew point depression services as specified in the award.

The company stated that the order has been received in the ordinary course of business. It also clarified that neither the promoter nor the promoter group has any interest in the awarding entity, and the contract does not fall under related party transactions.

About Deep Industries

Deep Industries Limited is an India-based energy services company engaged in providing integrated solutions to the oil and gas sector. The company offers services such as gas compression, gas dehydration, drilling and workover services, as well as production and processing solutions.

It primarily caters to upstream oil and gas companies, including major public sector clients like ONGC and Oil India Limited. Deep Industries focuses on enhancing production efficiency and supporting energy infrastructure through specialised equipment and technical expertise.

The company has a market capitalisation of Rs 3,038 crore, with the stock trading in a 52-week range of Rs 330.00 to Rs 578.00. In terms of performance, it has gained 36.36 per cent over the past month, declined 3.95 per cent over the past six months, and delivered a return of 10.67 per cent over the past year.