Aban Offshore rises on contract extension

ABAN OFFSHORE shares rose 3.54 per cent to Rs 1,650.6 on extension of Hardy Exploration Contract for utilisation of Tahara, a floating production unit, for a year at $ 49,000 per day.

The company also announced that drillship Aban Abraham owned by the wholly owned subsidiary has commenced its drilling operations. The stock opened at Rs 1,590 and made an intraday high/low of Rs 1,666.6 and Rs 1,584.05, respectively. Total volumes stood at 10.61 lakh shares, about 2.5 times as much its two-week average.