Gujarat-based Deep Industries has informed that it has obtained Notification of Award from ONGC, Rajahmundry Asset for Charter Hiring one Work Over Rig of 100 Ton capacity aggregating to Contract Value Rs 2.96 crore.

Earlier this week, the company has secured two contracts worth Rs 72 crore from state-run Oil and Natural Gas Corporation (ONGC) for hiring natural gas compressors to the company.

Deep Industries Limited operates as a diversified oil and gas company with business interests in air and gas compression, drilling, and work over rigs. It offers various contract compression services, including supply of equipment, commissioning, and operation and maintenance services

Shares of the company declined Rs 6.90, or 5%, to trade at Rs 132 (3.10 p. m., Thursday).