Stock market analyst Simi Bhaumik is of the view that investors can buy Aban Offshore Ltd stock to achieve a short term target of Rs 762.

According to analyst, the investors can buy the stock with stop loss of Rs 712.

Today, the shares of the company opened at Rs 734 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1679.50 and a low of Rs 648 on BSE.

Current EPS & P/E ratio stood at 81.53 and 9.11 respectively.

Aban Offshore was drilling for PDVSA of Venezuela when its drill ship, Aban Pearl, sank on 13 May 2010. The deal is a productive one as it paid Aban $350,000 on a daily basis.

A senior representative of Aban stated that the company will manage to rent or buy another asset from an American firm to restart the Venezuela order.

Reports said that Aban Offshore anticipates receiving full insured sum $240 million from the insurance company for Aban Pearl.

Aban Offshore posted consolidated net profit of Rs 39.27 in the fourth quarter ended March 2010 as compared to a net loss of Rs 93.04 crore in the same period of last year.

The company's net sales surged 31.90% to Rs 1020.98 crore in Q4 March 2010 over Q4 March 2009.