Aban Offshore sets sailing

Aban Offshore opened pretty muted at Rs.324 but has now spurted up sharply to Rs.338, an intra day high. Its 52-week high is at Rs.486.50 and low is at Rs.253.95.

The stock saw this spike up after it announced that it had secured an order worth Rs.955 crore from Mexico. This contract has been signed for the deployment of jack-up rig Deep Driller 1 (owned by the company's step down subsidiary) Offshore Mexico for a firm period of 1115 days. The Contract is likely to commence during July 2013.