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Stock Report
Deep Industries Ltd gets favorable arbitration award of $6.996 mn
Posted On : 2022-05-19 15:18:32( TIMEZONE : IST )
The Hon'ble Arbitration tribunal has pronounced the award on May 19, 2022 in favour of Deep Industries Ltd declaring that the termination of Gas Dehydration Systems Phase - II contract by ONGC vide letter dated July 31, 2017 is held to be illegal and also contravened the provisions of the contract agreement and is hereby set-aside.
The Hon'ble Arbitration Tribunal has also directed respondent ONGC to pay aggregate amount of USD6.996 Million against the claims of standby charges and wrongful deductions from invoices etc.
Shares of Deep Industries Ltd was last trading in BSE at Rs. 219.95 as compared to the previous close of Rs. 219.55. The total number of shares traded during the day was 18957 in over 660 trades.
The stock hit an intraday high of Rs. 229.50 and intraday low of 217.80. The net turnover during the day was Rs. 4232505.00.
