Deep Industries Limited Wins Award from ONGC for Natural Gas Services
Deep Industries Limited announced it has secured a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC). The contract involves the hiring of services for Natural Gas Compressor, Gas Dehydration & HC Dew Point Depression at the Malleswaram of ONGC, Rajamundry Asset for a period spanning three years.The total estimated value associated with this contract award is approximately INR 59 crores.
The details of the awarded contract have been outlined, specifying that the awarding entity is Oil and Natural Gas Corporation Limited, and the services pertain to Natural Gas Compressor, Gas Dehydration & HC Dew Point Depression for Malleswaram of ONGC, Rajamundry Asset.
A structured overview of the awarded contract terms includes:
| Detail | Information Provided |
|---|---|
| Awarding Entity | Oil and Natural Gas Corporation Limited |
| Scope of Services | Hiring of services of Natural Gas Compressor, Gas Dehydration & HC Dew Point Depression for Malleswaram of ONGC, Rajamundry Asset |
| Domestic/International | Domestic Entity / Domestic |
| Duration | Three (03) Years |
| Estimated Value | Approximately INR 59 crores |
The transaction is classified as a domestic contract, and the company confirmed that its promoters or the promoter group do not have any interest in the entity that awarded the order. Furthermore, the contract is not anticipated to fall under related party transactions.
DEEPINDS Stock Price Movement
Shares of Deep Industries Limited today rallied by 1.4% to trade at ₹445. The stock navigated an intraday swing between ₹434 and ₹454.5, seeing solid support with over 301,000 shares traded.Source:
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