Deep Industries Plunges 12% On Receiving Notice From ONGC

Deep Industries was down by over 12% on the NSE at 1420 hours in Thursday’s trading session on the back of news reports that the company has received a notice from ONGC related to contracts.The stock hit an intraday low of Rs 255 and an intraday high of Rs 305 per share. It has delivered 44% returns in a period of one year and has outperformed the BSE Small Cap and Nifty Service Sector indices over the same time span.

Deep Industries Limited is a service provider to industries engaged in the oil & gas field services, exploration and production. The company primarily provides support activities for petroleum and natural gas mining.Deep Industries Ltd is currently trading at Rs 268, down by Rs 37 or 12.13% from its previous closing of Rs 305 on the BSE.The scrip opened at Rs 306 and has touched a high and low of Rs 306 and Rs 256 respectively. So far 1315840(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 976 crore.

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