Deep Industries jumped 6.98% to Rs 46 at 14:53 IST on BSE, after a consortium of the company was awarded a block under the New Exploration Licensing Policy.
The stock hit a high of Rs 47.80 and a low of Rs 41.65 so far during the day. The stock hit a 52-week high of Rs 271 on 8 January 2008 and a 52-week low of Rs 36.85 on 27 October 2008.
The company's current equity is Rs 20 crore. Face value per share is Rs 10.
The current price of Rs 46 discounts the company's Q2 September 2008 annualized EPS of Rs 6.02, by a PE multiple of 7.64.
Deep Industries in consortium with Deep Energy LLC, Kanvel Finance and Savla Enterprise has bagged a block under the New Exploration Licensing Policy (NEPL-VII). The area of block is 789 square kilometers. Deep Industries will hold 70% interest in the block and all others will hold 10% each.
Deep Industries' net profit rose 35% to Rs 3.01 crore on 76.4% increase in net sales to Rs 8.54 crore in Q2 September 2008 over Q2 September 2007.
The company provides equipments and services for drilling and work over, air and gas compression and allied business.
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