Thursday , October 28 2021

Aban Offshore surges on receiving LoA for deployment of jack-up rig ABAN II

Aban Offshore is currently trading at Rs. 25.60, up by 0.60 points or 2.40% from its previous closing of Rs. 25.00 on the BSE.

The scrip opened at Rs. 26.25 and has touched a high and low of Rs. 26.25 and Rs. 25.50 respectively. So far 1760 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 88.00 on 12-Oct-2018 and a 52 week low of Rs. 21.55 on 26-Aug-2019.

Last one week high and low of the scrip stood at Rs. 28.00 and Rs. 23.95 respectively. The current market cap of the company is Rs. 148.83 crore.

The promoters holding in the company stood at 46.00%, while Institutions and Non-Institutions held 2.31% and 51.70% respectively.

Aban Offshore has received a Letter of Award (LoA) for deployment of jack-up rig ABAN II from Oil and Natural Gas Corporation (ONGC) for a firm period of three years. The deployment is expected to commence during the second quarter of the Calendar year 2020.

Aban Offshore is engaged in the business of providing offshore drilling and production services. The Company’s operating segments include offshore oil drilling and production services, and wind power generation (Wind energy). It is also engaged in the ownership and operation of wind turbines for generation of wind power in India.

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