Aban Offshore gains after QIP approval

Stock up 2% at Rs 400

Aban Offshore gained 2% at Rs 400 in early trades as the company has informed BSE that the members of the Company have passed the resolution relating to issue of securities of Qualified Institutional Buyers (QIPs), by way of Postal Ballot.

The stock opened at Rs 396 and has so far seen a low of Rs 394 and a high of Rs 404.

On the BSE, 97,000 shares changed hands as compared to a two week average of 1.62 lakh shares.