Oily Smooth
Ali On Content / 17 Aug 2009
Aban Offshore is India’s largest offshore drilling entity in the private sector. One can invest in the counter with short to medium-term perspective.
Aban Offshore
BSE: 523204
CMP: 1151.05
Volume: 1458956
Aban Offshore is India’s largest offshore drilling entity in the private sector, a company which provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad. The counter in the last one month has surged by over 70 per cent and has been amongst the top gainers and top volumes list on both the bourses. The company was the worst hit during the meltdown. However, with the crude recovering for its lows and stabilising at around USD 70 per barrel, it is expected to ramp up demand for the rigs - and thus benefiting players like Aban. In fact, it has recently deployed one of its rigs at a whopping rate of USD 4,95,000 per day. However, higher debt is a cause of the worry for the company. As per a technical analyst, the counter is expected to move up sharply in the coming period. Thus one can invest in the counter with short to medium-term perspective.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.