Deep Industries Limited has informed the Exchange about Awarding of order(s)/contract(s)
DEEPINDS · price
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Awaiting price reaction for this filing.
Deep Industries has received a Letter of Award from Oil India Limited, a government-owned oil and gas major, for hiring a 1000 HP mobile drilling rig package to be deployed in Assam and Arunachal Pradesh. The contract is valued at approximately INR 148 crores and runs for a period of four years. Oil India Limited is a domestic public sector entity, and the contract is in the ordinary course of business with no related party involvement. This adds a long-tenure revenue stream from a creditworthy government counterparty to the company's order book.
Positive for the stock — the award provides multi-year revenue visibility and reduces business risk, though execution will depend on deployment timelines and working capital needs for the rig.