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Friday, November 11, 2011

Stock_for_YOU Re: {LONGTERMINVESTORS} Aban offshore....Thread...

report atch.
On Fri, Nov 11, 2011 at 1:10 PM, RAJESH DESAI <> wrote:

11th-Nov-2011 11:25Source: BSE

Aban Offshore - Receipt of Order from ONGC worth Rs. 285 Crores

Aban Offshore Ltd has informed BSE that the Company has received a Firm Order from ONGC for the deployment of jack-up rig Aban II for a period of 3 years. The total value of this firm order is approximately USD 57 million (equivalent to Rs.285 Crores). The contract is expected to commence during the first quarter of calendar year 2012.

On Tue, Nov 8, 2011 at 5:54 PM, RAJESH DESAI <> wrote:
results atch.

On Wed, Jun 15, 2011 at 6:29 PM, RAJESH DESAI <> wrote:

Gaurang Shah, Geojit BNP Paribas Financial Services is of the view that one can buy Aban Offshore with a price target of Rs 647 from a one-year time horizon.

Shah told CNBC-TV18, �It has scary memories for investors who would have possibly got stuck at Rs 1100-1200 plus because from there Aban Offshore has seen a one way down slip and there has been no respite. From hereon since the stock has corrected quite sharply we feel that the future growth of the company in terms of earnings also looks quite positive. That is why we have retained a buy on Aban Offshore. But however considering the delay in charter rates and the vessels lying ideal we have reduced our target price from Rs 690 to Rs 647. The positive that we look into Aban Offshore is, that Aban Abrahim has been deployed from this month onwards to Petrobas and this is likely to boost the operational profitability. The concern as far as two ideal vessel in form of Aban 5 and Aban 7 is going to continue for at least another 3-4 months which means effectively that these two vessels will start operating from second half for FY12.�

He further added, �The Company reported revenues, which was about 12% lower year on year compared to what it was earlier. Aban has also been able to repay a part of FCCB debt and going forward they are possibly hopeful that they will be able to repay the other. This repayment of FCCB is going to increase the financial burden on Aban Offshore wherein the redemption premium and other financial charges will come into effect so that might hurt the company at least from a short term point of view and the negative effect of this could possibly lay for at least one quarter, But considering the kind of correction we expect that from hereon the downside looks very limited and the charter improvement going forward would improve the profitability of the company. We have a buy recommendation on Aban with a price target of Rs 647 from a one-year time horizon.�

On Tue, Jun 7, 2011 at 2:03 PM, RAJESH DESAI <> wrote:
You are right in making this comment and this is one of the reasons why I am tracking this co.
I am attaching a few reports.

On Tue, Jun 7, 2011 at 1:41 PM, swaminathan subramanian <> wrote:
The company is reported to have more than 2b$ in debts and two of
their rigs is not under utilization.
If this information can be correct, then one should excercise utmose
caution in investing in this scrip.

On Tue, Jun 7, 2011 at 1:35 PM, RAJESH DESAI <> wrote:
> I am starting a new thread for each company I am tracking and shall post all
> updates in the respective threads. All members are requested to also post
> reports, views and updates in these threads.
> Safe Harbor Statement:
> Some forward looking statements on projections, estimates, expectations &
> outlook are included to enable a better comprehension of the Company
> prospects. Actual results may, however, differ materially from those stated
> on account of factors such as changes in government regulations, tax
> regimes, economic developments within India and the countries within which
> the Company conducts its business, exchange rate and interest rate
> movements, impact of competing products, acts of God and their pricing,
> product demand and supply constraints.
> Nothing in this article/report is, or should be construed as an investment
> advice.
> Aban Offshore sets sail as drillship Aban Abraham starts operations under
> 5-year contract
> Aban Offshore rose 1.59% to Rs 578.75 at 12:17 IST on BSE as the drillship
> Aban Abraham -- owned by a wholly owned step down subsidiary of Aban
> Offshore commenced operations under a 5-year contract with Petrobras,
> Brazil, on 5 June 2011.
> The company made the announcement during trading hours today, 7 June 2011.
> Meanwhile, the BSE Sensex was up 47.03 points, or 0.26%, to 18,467.14.
> On BSE, 1.85 lakh shares were traded in the counter compared with average
> volume of 1.72 lakh shares over the past two weeks.
> The stock hit a high of Rs 583.45 and a low of Rs 564 so far during the day.
> On a consolidated basis, Aban Offshore's net profit surged 286% to Rs 151.66
> crore on 12% decline in net sales to Rs 898.72 crore in Q4 March 2011 over
> Q4 March 2010.
> --



CA. Rajesh Desai

CA. Rajesh Desai

CA. Rajesh Desai

Prasanth KS
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