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Showing posts with label ABAN Offshore. Show all posts
Showing posts with label ABAN Offshore. Show all posts

Sunday, January 02, 2011

Aban Offshore climbs on positive broker comments


Shares of Aban Offshore Ltd. jumped on Thursday in a rising market after Kotak Institutional Equities upgraded the stock to "Buy", citing the recent correction in the stock and the spike in crude oil prices. Separately, Avendus India Equity Research came out with a positive report on the stock. "We would advise investors to capitalise on the recent correction in Aban’s stock price as we see the risk-reward balance favorable at the current juncture. We highlight that there has been no change in the business conditions to justify the underperformance over the past three months," Kotak said in its note. "Key risks stem from debt-repayment capability," Kotak added.