Deep Industries Secures ₹62 Crore Drilling Services Contract from Selan Exploration

Deep Industries Limited, a leading provider of oilfield services, has announced receiving a Letter of Award (LoA) from Selan Exploration Technology Limited. The award pertains to the provision of integrated drilling services across Selan-operated blocks, solidifying Deep Industries’ role as a key player in the energy sector.

Key Highlights of the Contract

1. Awarding Entity: Selan Exploration Technology Limited.
2. Scope of Work: Integrated drilling services for operational blocks.
3. Contract Duration: 18 months, beginning immediately.
4. Value: The contract is valued at approximately USD 7.30 million, equivalent to ₹62 crore.

Share Price Performance

On December 20, 2024, the stock of Deep Industries opened on a high note and reached an intraday peak of ₹618.20 on the NSE. By 9:44 AM, the stock was trading at ₹602. 

Regulatory and Transparency Details

As per SEBI’s Listing Obligations and Disclosure Requirements, the company confirmed:

• No promoter or group companies have any interest in the awarding entity.
• The transaction does not fall within related party transactions, ensuring transparency.

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