Aban Offshore rose 1.76% to Rs 582.50 at 11:01 IST on BSE on bargain hunting after the stock fell 7.89% in the preceding three trading sessions to Rs 572.45 on 16 October 2014 from a recent high of Rs 621.50 on 10 October 2014.
Meanwhile, the BSE Sensex was down 13.92 points, or 0.05%, to 25,985.42.
On BSE, so far 1.31 lakh shares were traded in the counter, compared with an average volume of 2.85 lakh shares in the past one quarter.
The stock hit a high of Rs 590 and a low of Rs 573.50 so far during the day. The stock hit a 52-week high of Rs 939.90 on 8 July 2014. The stock hit a 52-week low of Rs 222.50 on 17 October 2013.
The stock had underperformed the market over the past one month till 16 October 2014, falling 16.67% compared with 1.86% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.60% as against Sensex's 1.76% rise.
The mid-cap company has an equity capital of Rs 11.37 crore. Face value per share is Rs 2.
On a consolidated basis, Aban Offshore's net profit jumped 104.3% to Rs 152.69 crore on 15.7% growth in net sales to Rs 1027.78 crore in Q1 June 2014 over Q1 June 2013.
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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