Aban Offshore plunged14.5% to Rs 1744.55 even as the company said on Friday, 3 October 2008, it has received an order worth Rs 1133 crore for multiple well-drilling program for four years.
The stock hit a high of Rs 2040.45 and a low of Rs 1710 during the day. The stock has a 52-week high of Rs 5555 on 20 November 2008 and a low of Rs 1850 on 30 September 2008.
The company’s current equity is Rs 7.56 crore. Face value per share is Rs 2.
The current price of Rs 1900 discounts Q1 June 2008 annualized EPS of Rs 75.67, a PE multiple of 25.12.
On 26 September 2008, Aban Offshore signed a contract with Husky Oil China for multiple well-drilling programmes for 180 days worth Rs 178 crore.
On 16 September 2008, Aban Offshore secured a five-year contract worth Rs 3150 crore for the deployment of its semi-submersible rig Aban Pearl.
Aban Offshore’s net profit surged 152% to Rs 71.51 crore on a 93.5% increase in net sales to Rs 246.95 crore in Q1 June 2008 over Q1 June 2007.
Aban Offshore is India’s largest private sector offshore drilling entity. It provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.
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