Multibagger small-cap stock surges over 9% after securing ₹59 crore order from ONGC

The oil and gas services sector benefits from sustained capital expenditure by major players like ONGC. Order wins indicate healthy demand for specialized services.

Maintain a bullish bias on companies securing new contracts in the oil & gas services space, focusing on those with strong execution track records.

For Indian markets, this story mainly matters for DEEPINDS, ONGC and the Oil & Gas, Capital Goods pocket. The current signal is bullish, so traders should look for follow-through in price, volume, and sector breadth instead of reacting to the headline alone.

Watch whether the next market session confirms the setup described here: Secured a new ₹59 crore order from ONGC, leading to a significant stock price surge. Awarded a contract to Deep Industries, indicating ongoing operational activities, but the impact on ONGC itself is minor. Also track volume confirmation, sector participation, and whether the move holds beyond the first reaction.

• •Deep Industries shares rose 9.5% to ₹487.50.
• •The company received a new order worth ₹59 crore from ONGC for gas-related services.
• •Deep Industries has reported significant profit growth.
• •The stock has surged 2,472% since April 2021, despite recent pressures.
• •Risk flag: Volatility in crude oil prices can impact client spending.