ONGC awards three-year contract for Rig Discovery I

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JINDRILL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.8%Reaction day

₹517.15

prior close

₹503.60

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Oil peers, median of 15sector · industry level+0.7%-1.5% vs sector

On the reaction day the stock moved 1.5 pts less than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+2.9

10m

+1.4

15m

+1.6

30m

+2.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.8pendingpending+0.7-1.5

Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Oil peers, median of 15Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Oil and Natural Gas Corporation Limited awarded Jindal Drilling the deployment of Rig Discovery I for three years. The effective day rate is Rs 51,99,293.21, equal to USD 54,633.36. The award is from a domestic entity, and the promoter group has no interest in ONGC.

Likely market impact

Positive for revenue visibility and rig utilisation. The profit and cash-flow benefit will depend on operating costs and contract execution.