Saturday, November 1, 2008

Aban Offshore spurts on strong Q2 results

Aban Offshore jumped 8.57% to Rs 763 at 10:11 IST on BSE as net profit surged 72.3% to Rs 81.34 crore in Q2 September 2008 over Q2 September 2007.
The stock hit a high and low of Rs 805 and Rs 725 so far during the day. The stock had a 52-week high of Rs 5555 on 20 November 2007 and 52-week low of Rs 610 on 27 October 2008.
The offshore drilling contractor has an equity capital of Rs 7.56 crore. Face value per share is Rs 2.
The current price of Rs 763 discounts its Q2 September 2008 annualised EPS of Rs 86.07, by a PE multiple of 8.86.
Aban Offshore’s net sales jumped 70.60% to Rs 282.06 crore in Q2 September 2008 over Q2 September 2007.
Aban Offshore provides oil field services for offshore exploration and production. The company offers technical services, specialists drilling and other services for offshore oil exploration and development.

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