Aban Offshore rallies on Rs 380 crore contact
The stock has rallied 19% in past three trading sessions compared to nearly 1% decline in S&P BSE Sensex.
Aban Offshore has moved higher by 4% to Rs 439 after the company said it has won a contract for deploying jack-up rig Deep Driller 5, owned by its step down unit Offshore Vitenam, for one year , which is expected to generate revenue of $61.3 million (about Rs 380 crore).
A letter of award has been received for the deployment of the jack-up rig Deep Driller 5 (owned by the company's step down subsidiary) Offshore Vietnam, for a firm period of 1 year and an optional period of 1 year, Aban Offshore said in a BSE filing.
The estimated revenues from the deployment during the firm period are about $61.3 million (equivalent to approx. Rs 380 crore). The contract is likely to commence during April 2014, it added.
The stock opened at Rs 426 and touched high of Rs 448 on the BSE. A combined 4.4 million shares have changed hands on the counter till noon deals on the BSE and NSE.
Meanwhile, the stock has rallied 19% in past three trading sessions compared to nearly 1% decline in benchmark S&P BSE Sensex.
A letter of award has been received for the deployment of the jack-up rig Deep Driller 5 (owned by the company's step down subsidiary) Offshore Vietnam, for a firm period of 1 year and an optional period of 1 year, Aban Offshore said in a BSE filing.
The estimated revenues from the deployment during the firm period are about $61.3 million (equivalent to approx. Rs 380 crore). The contract is likely to commence during April 2014, it added.
The stock opened at Rs 426 and touched high of Rs 448 on the BSE. A combined 4.4 million shares have changed hands on the counter till noon deals on the BSE and NSE.
Meanwhile, the stock has rallied 19% in past three trading sessions compared to nearly 1% decline in benchmark S&P BSE Sensex.