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Aban Offshore has soared 11% to Rs 630, bouncing back 15% from intra-day low on NSE, after the company said it has received orders worth of Rs 1,114 crore from state-owned oil exploration and production firm Oil and Natural Gas Corporation (ONGC) for deployment of jack-up rig.
“Firm order from ONGC for the deployment of jack-up rig Aban IV for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 557 crore),” Aban Offshore said in a statement.
The company also received firm order from ONGC for the deployment of jack-up rig Aban III for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 557 crore), it added.
Both these contracts are expected to commence during the first quarter of calendar year 2015.
The stock opened at Rs 563 and touched a low of Rs 546 on NSE before the announcements. The trading volumes on the counter more than doubled with a combined 3.4 million shares changed hands so far on NSE and BSE.
“Firm order from ONGC for the deployment of jack-up rig Aban IV for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 557 crore),” Aban Offshore said in a statement.
The company also received firm order from ONGC for the deployment of jack-up rig Aban III for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 557 crore), it added.
Both these contracts are expected to commence during the first quarter of calendar year 2015.
The stock opened at Rs 563 and touched a low of Rs 546 on NSE before the announcements. The trading volumes on the counter more than doubled with a combined 3.4 million shares changed hands so far on NSE and BSE.
