Aban Offshore New orders

Aban Offshore rose 0.44% to Rs 3,170 at 11:44 IST on BSE after receiving two orders totaling $55 million to provide offshore services for a total duration of 300 days.

The stock hit a high of Rs 3,239 and a low of Rs 3,160.10 so far during the day. The stock had a 52-week high of Rs 5,555 on 20 November 2007 and a 52-week low of Rs 2,424 on 17 August 2007.

The company has an equity capital of Rs 7.56 crore. Face value per share is Rs 2.

The current price of Rs 3,170 discounts its Q4 March 2008 annualised EPS of Rs 36.56, by a

PE multiple of 86.7.

Aban Offshore is India’s largest private sector offshore services firm in terms of sales. It provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.

The company’s net profit rose 17% to Rs 34.55 crore on 65.5% rise in sales to Rs 196.39 crore in Q4 March 2008 over Q4 March 2007.