Deep Industries Secures Letter of Award from Oil and Natural Gas Corporation for Charter Hiring Services
Deep Industries Limited has secured a significant business opportunity, receiving a Letter of Award from Oil and Natural Gas Corporation Limited. The contract involves providing charter hiring services for Natural Gas Compression at the GGS Paliyad asset in Ahmedabad.The agreement spans a period of five years, with an estimated total value amounting to INR 49.10 crores. This award solidifies Deep Industries' position in specialized industrial service provision within the domestic market.
Key details of the contract awarded by Oil and Natural Gas Corporation Limited are summarized below:
| Detail | Information |
|---|---|
| Awarding Entity | Oil and Natural Gas Corporation Limited |
| Service Provided | Charter hiring services for Natural Gas Compression |
| Asset Location | GGS Paliyad of Ahmedabad asset |
| Duration | Five years |
| Estimated Contract Value | INR 49.10 crores |
| Nature of Award | Domestic entity contract |
The transaction details confirm that Oil and Natural Gas Corporation Limited is a domestic entity, and the services relate to charter hiring for Natural Gas Compression at the specified asset in Ahmedabad. Furthermore, the company confirmed that the awarding entity has no interest in its promoters or the order falls under any related party transactions.
DEEPINDS Stock Price Movement
As of 11:24 AM, Deep Industries Limited shares are shedding value in live trading, having slipped by 3.57% to trade at ₹440.10. The stock has seen high intraday activity, with a total traded volume of 137,675 shares recorded so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.