Aban Offshore gains on securing contract from ONGC

The announcement was made during trading hours today, 7 June 2013.

Meanwhile, the S&P BSE Sensex was up 75.23 points or 0.39% at 19,594.72.

On BSE, 1.30 lakh shares were traded in the counter as against average daily volume of 92,439 shares in the past one quarter.

The stock hit a high of Rs 307.90 and a low of Rs 295.50 so far during the day. The stock had hit a 52-week high of Rs 486.50 on 5 October 2012. The stock had hit a 52-week low of Rs 253.95 on 12 April 2013.

The stock had underperformed the market over the past one month till 6 June 2013, sliding 6.86% compared with the Sensex's 0.78% fall. The scrip had, however, outperformed the market in past one quarter, jumping 7.7% as against Sensex's 1.39% rise.

The small-cap company has equity capital of Rs 8.70 crore. Face value per share is Rs 2.

Aban Offshore said that the the contract is expected to commence during the last quarter of calendar year 2013, the company said.

Aban Offshore's consolidated net profit declined 24.6% to Rs 60.70 crore on 19.5% growth in net sales to Rs 959.70 crore in Q4 March 2013 over Q4 March 2012.

Aban Offshore is India's largest offshore drilling contractor in the private sector, offering drilling and oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.

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