Aban Offshore slides on profit booking

Aban Offshore lost 2.36% to Rs 213.50 at 14:13 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 96.68 points or 0.36% at 26,666.78.

On BSE, so far 2.30 lakh shares were traded in the counter as against average daily volume of 4.06 lakh shares in the past one quarter. The stock hit a high of Rs 218.70 and a low of Rs 212.25 so far during the day. The stock had hit a 52-week low of Rs 142.50 on 12 February 2016. The stock had hit a 52-week high of Rs 340 on 15 July 2015. The stock had outperformed the market over the past one month till 9 June 2016, gaining 8.24% compared with Sensex's 4.18% rise. The scrip had also outperformed the market in past one quarter, advancing 24.7% as against Sensex's 7.94% rise.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Shares of Aban Offshore had rallied 11.61% in the preceding three trading sessions to settle at Rs 218.65 yesterday, 9 June 2016, from its close of Rs 195.90 on 6 June 2016.

On consolidated basis, Aban Offshore reported net loss of Rs 119.80 crore in Q4 March 2016 compared with net profit of Rs 113.54 crore in Q4 March 2015. Net sales declined 36.5% to Rs 629.30 crore in Q4 March 2016 over Q4 March 2015.

Aban Offshore offers a diverse range of offshore drilling services to clients in India and abroad.

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