Deep Industries, a company engaged in oil and gas feild operations, announced that the company has received Letter of Award (LoA) of contract from Vedanta for providing workover Rig DR#06 for RJ-ON-90/1 block for primary period of 3 years. The total estimated value of the said award is Rs 477.8 million approx.

The stock had underperformed the market over the past one month till May. 14, 2018, falling 13.65% compared with the Sensex's 3.99% rise. It underperformed the market in past one quarter, declining 25.51% as against 4.10% rise in the Sensex.

Shares of the company declined Rs 1.35, or 0.9%, to trade at Rs 148.50. The total volume of shares traded was 1,228 at the BSE (11.10 a.m., Tuesday).