On July 14, Deep Industries entered into a Joint Venture (JV) with Euro Gas Systems to supply oil field equipment to the oil and gas industry.

Euro Gas Systems has acquired a 26% stake in Deep Onshore Drilling Service Private Limited, a subsidiary company of Deep Industries, of which Deep Industries hold 74%.

On July 12, Deep Industries received a Letter of Award from Oil and Natural Gas Corporation Limited for Charter Hiring of 1 number of 90 MT Mobile Drilling Rigs with Integrated Mud Services & METP with Manpower for 3 years for CBM Asset, Bokaro.

The total value of the letter of award is approximately Rs 130 crore.

In the previous intra-day session, the share closed up 3.62% or Rs 7.10 at Rs 203.45.

At 3:20 pm, Deep Industries quoted Rs 213.85, up Rs 10.40, or 5.11% on the BSE.

The share touched a 52-week high of Rs 220.05 on July 13, 2023, and a 52-week low of Rs 88.55 on August 11, 2023.

Currently, the stock is trading 4.52% below its 52-week high and 137.27% above its 52-week low.