Announced Thu, 30 Jul · 10:53 IST
ONGC awards 3-year rig deployment contract to Jindal Drilling
JINDRILL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+6.2%1-day move
₹578.40
prior close
₹593.15
base price
In-mkt
timing
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+1.6+1.1+1.1+1.5+6.2+5.1+6.2+7.5+5.5+2.6+9.3———
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AI summary
Jindal Drilling received a Notification of Award from ONGC for deployment of rig Jindal Pioneer for 3 years at an Effective Day Rate of about Rs. 45.83 lakh (roughly USD 47,894). The rig is currently under refurbishment and the contract is expected to start in Q3 FY27. Total contract value could approach Rs. 50 crore over 3 years depending on operating days. ONGC is a domestic public sector entity and promoters have no related interest.
Likely market impact
Positive: 3-year revenue visibility from a strong government client, though execution hinges on timely rig refurbishment and Q3 FY27 start.