Deep Industries shares jumped 8.1 per cent in trade on the BSE, logging an intra-day high at ₹358.75 per share. At 11:29 AM, Deep Industries’ share price was trading 4.4 per cent higher at ₹346.2. In comparison, Sensex was up 0.12 per cent at 74,652.24.
The buying on the counter came after the company entered into a memorandum of understanding (MoU) with Advait Greenergy Pvt Ltd (AGPl) to jointly bid for and execute green hydrogen project tenders floated by government bodies, PSUs and other entities in India and overseas, as per an exchange filing.
According to the filing, the MoU is part of the company’s strategic growth initiatives and is intended to create a framework for collaboration in participating in tenders and executing projects if awarded.
Under the MoU, Deep Industries and AGPL will work together on:
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Preparing and submitting joint bid proposals -
Making technical submissions and financial responses -
Executing the project upon award, based on the respective scope defined in the MoU -
The company said the parties may jointly pursue tenders floated by entities such as NTPC, SECI, IOC, HPCL, BPCL, GAIL, other PSUs, state utilities and other organisations.
Key terms
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No upfront consideration has been paid for entering the strategic tie-up -
The MoU is valid for two years from March 13, 2026, and may be extended by mutual agreement -
The company said the transaction is not a related party transaction
Deep Industries said the collaboration aims to leverage the strengths of both companies to expand business opportunities in the green hydrogen space.
Deep Industries specialises in providing Air and Gas compression services, drilling and workover services, gas dehydration services, and also has expertise in Integrated Project Management Services.
The company has grown up to be a “One Stop Solution” provider for every need in Oil and Gas field operations by providing various equipment and services under a rental and chartered-hire basis. Its comprehensive portfolio includes various machines, equipment, and tools to be used in the Oil and Gas Industry, from exploration & production services to midstream services.
