Aban Offshore surges 4% on QIP success

The stock soared to a high of Rs 1,347, and then settled with a gain of 3.8% at Rs 1,341. Around 812,000 shares changed hands at the counter on the BSE today.
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(Updated at 1033 hrs)

Aban Offshore has advanced 2% on successfully completing its qualified institutional placement (QIP) issue. The company raised around 700 crore through the QIP.

The stock opened at Rs 1,300 and then touched a high of Rs 1,319. The scrip is now trading at Rs 1,318, up 2% from the previous close. The counter has clocked volumes of 130,300 shares on the BSE as compared to the two-week daily average traded volumes of 713,704 shares on the BSE.