Buy Aban Offshore To Achieve Intraday Target Of Rs 719

Buy Aban Offshore To Achieve Intraday Target Of Rs 719Technical analyst Simi Bhaumik has maintained 'buy' rating on Aban Offshore Limited stock with an intra-day target of Rs 719.

According to analyst, the investors can buy the stock with a stop loss of Rs 689.

The stock of the company, on April 07, closed at Rs 702.15 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 74.54 and 9.54 respectively.

The share price has seen a 52-week high of Rs 1276.90 and a low of Rs 526 on BSE.

Offshore drilling contractor Aban Offshore stated that its arm Sinvest is selling its complete equity stake (50% stake) in Venture Drilling AS to Norway's Petrolia ASA.

The said deal is valued at USD 34 million.

Aban Offshore, via its division Aban Singapore Pte, had bought an equity stake in Norwegian company Sinvest in the year 2006.

Set up in the year 1986, Aban Offshore Limited (AOL) rolled out its primary contract drilling service to the ONGC in the year 1987 with two contemporary jack-up drilling rigs purchased from the United States of America.