Share price of Aban Offshore rose 4 percent intraday Thursday as company received letter of award (LoA) to deploy three jack-up rigs in UAE.
The company's wholly owned step-down subsidiary received letter of award for the deployment of three jack-up rigs owned by step-down subsidiaries of the company, in the United Arab Emirates.
While two of the above said jack-up rig deployments are for a firm period of four years each, the deployment of the third jack-up rig is for a firm period of three years and an optional period of two years.
Two of the jack-up rigs are expected to commence deployment during the last quarter of calendar year 2018 and the third jack-up rig is expected to commence deployment during the first quarter of calendar year 2019.
At 13:15 hrs Aban Offshore was quoting at Rs 114.90, up Rs 1.60, or 1.41 percent on the BSE.
The share touched its 52-week high Rs 280.40 and 52-week low Rs 107.60 on 11 January, 2018 and 03 July, 2018, respectively.
Currently, it is trading 59.08 percent below its 52-week high and 6.64 percent above its 52-week low.
Posted by Rakesh Patil First Published on Jul 12, 2018 01:26 pm
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