Multibagger inventory jumps 3% after securing work order value ₹ 81 Cr from Oil India  

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Shares of this multibagger inventory beneath the ‘small-cap’ class jumped round 3 p.c in Tuesday’s buying and selling session after the corporate secured a piece order value Rs 81 crores from Oil India Restricted (OIL). Prior to now month, the corporate’s inventory gained practically 20 p.c for its holders. 

With a market capitalization of Rs 1,939.52 crores, the shares of Deep Industries Restricted began their buying and selling session on Tuesday at Rs 302.50 and at present commerce at Rs 303.05, gaining roughly 3 p.c in comparison with the earlier closing ranges of Rs 293.85 apiece. 

Such bullish share value actions had been noticed right now after the corporate, by way of a regulatory submitting with the Bombay Inventory Trade (BSE), intimated concerning the receipt of a piece order from “Oil India Restricted” (OIL) value Rs 81 crores. 

The work order talked about above pertains to the constitution hiring of 1,000 HP Cellular Rig Packages for 2 years (with the supply of an extension for one yr) for Workover & Drilling jobs in Tripura. 

Holding a purview of the final one yr, the corporate’s inventory has delivered multibagger returns of roughly 102 p.c for its stakeholders, i.e., if somebody had invested Rs 1 lakh into the corporate’s inventory a yr in the past, it might have transformed to Rs 2.02 lakhs. 

Throughout the current monetary quarters, the corporate’s primary enterprise indicators, viz, its working revenues in addition to after-tax earnings, confirmed marginal actions in opposing instructions. 

The previous, on one finish, rose from Rs 101 crores throughout Q2FY24 to Rs 105 crores throughout Q3FY24, and the latter, on the opposite finish, moved down barely from Rs 30 crores to Rs 28 crores. 

In accordance with the most recent shows, the corporate’s excellent order e book stands at Rs 1,200 crores, indicating a YoY improve of roughly 25 p.c. Throughout the quarter, the corporate efficiently secured orders totaling Rs 97 crores from ONGC and Vedanta Restricted.

The mining firm can also be engaged on bidding for tenders within the offshore area in ‘Dolphin Offshore’ with plans to bid within the subsequent quarter. Furthermore, the corporate is exploring alternatives within the ‘Hydrogen’ sector for compressor purposes, specializing in improvement in RAAS Gear Personal Restricted, a subsidiary firm of Deep Industries. 

Based in 1991, Deep Industries Restricted is a diversified oil & gasoline firm offering companies of oil & gasoline exploration, gasoline dehydration, drilling, air & gasoline compression, and many others. It has additionally diversified into offering drilling and work-over companies to exploration in addition to manufacturing gamers by way of its fleet of rigs. 

Written by Amit Madnani 

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