Deep Industries Share Price Surges Over 6%; Secures ₹59 Crore ONGC Gas Services Contract

Deep Industries Limited has received a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC) for gas field services at the Malleswaram site under the Rajahmundry asset.  

As per a filing dated April 6, 2026, the contract covers the hiring and operation of natural gas compressors along with gas dehydration and hydrocarbon dew point depression services.  

Order Size and Timeline 

The total estimated value of the contract is around ₹59 crore. The work is scheduled to be carried out over a period of 3 years.  

The duration indicates a continuing services arrangement rather than a one-time project. Execution is expected to align with ONGC’s ongoing production requirements at the asset. 

Scope of Work 

The services include compression of natural gas to maintain pressure levels, removal of moisture through dehydration, and control of hydrocarbon dew point to prevent condensation during transportation.  

These functions are to ensure that gas meets pipeline specifications and can be transported without operational issues. The scope reflects routine field-level requirements in oil and gas production. 

Nature of the Contract 

The award has been granted by a domestic entity, with ONGC acting as the client. The contract falls within the company’s regular line of business.  

Company disclosures state that there is no promoter or group company interest in the awarding entity. The contract is not classified as a related party transaction.  

Read More: CreditAccess Grameen Shares Up 5%: Strong Operational Performance in FY26! 

Deep Industries Share Price Performance  

As of April 7, 2026, 11:25 am, Deep Industries Ltd share price was trading at ₹476.05, up 6.81% from the previous closing price. 

Conclusion 

The order adds a 3-year service engagement with ONGC, valued at approximately ₹59 crore. It is part of routine operations in the oil and gas services segment, with no related party involvement. 

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