Jindal Drilling & Industries Ltd (JDIL), a part of the D.P. Jindal group, one of India's most respected, diversified and leading Industrial House, has provided the newly built jack-up rig "Discovery-I" to state-run Oil and Natural Gas Corp (ONGC).

This rig has been contracted by ONGC for a period of three years on a firm contract basis and the aggregated value of this contract is about US$ 165 million.

New-Delhi-based Jindal Drilling's principal activity is to provide drilling and related services. It provides drilling services in oil and gas service sector. The Company is also providing mud logging services to the companies in Indian market.

The stock has lost over 70% valuation in past ten months due to financial crisis around the globe. The stock is presently trading at Rs 876 on BSE, which makes a good buy for long term investors. The stock has caliber to give two-fold returns from current level to investors, within 18 to 24 months of time-frame.