Stock market analyst Ashwani Gujral suggested investors to ‘sell’ Aban Offshore with a target between Rs 725 – Rs 690.

According to Mr. Gujral, investors can sell the stock with a strict stop loss of Rs 820.

Mr. Gujral feels that Aban Offshore stock would remain under high pressure due to existing market condition. The stock also remained weak on Wednesday (June 10), and closed the day at Rs 301.60 on the Bombay Stock Exchange (BSE).

Today (July 08), the shares of the company opened at Rs 775 as against its last closure of Rs 789.55 on Tuesday (July 07) on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 67.61 & 10.94 respectively. The share price has seen a 52-week high of Rs 2924 and a low of Rs 224.10 on BSE.

Mr. Gujral also suggested that if the stock fell below Rs 670, it may see more weakness. So the investors must sell Aban Offshore in today’s session. After selling the stock, the interested investors can purchase the stock again at a low price, for medium term prospective to make good profits.

Aban Offshore is in the business of providing and operating ships, vessels, rigs, structures, equipment and personnel required for on-shore and off-shore drilling and oil field services.

It is India`s largest offshore drilling entity in the private sector where its American partner provides technical know-how.