Aban Offshore

Buy Aban Offshore, target of Rs 5555: Hem

Posted by : gunamjj

Hi Lion,

I agree with you. I feel ABAN should be accumulated from this level onwards.... Long/Medium term investors can happily buy this one and add more in every 5% fall... Pls split ur investment in lots... As girin said if it falls to 1900 add more thinking u r lucky :)...


Happy Investing....

Buy Aban Offshore, target of Rs 5555: Hem

Posted by : gunamjj

Hi Lion,

I agree with you. I feel ABAN should be accumulated from this level onwards.... Long/Medium term investors can happily buy this one and add more in every 5% fall... Pls split ur investment in lots... As girin said if it falls to 1900 add more thinking u r lucky :)...


Happy Investing....

ABAN blazing !

Posted by : DUstocks

loreal TISCO is sure looking downcast b'coz of the anticipated (further) fall in steel prices :

At the current Speed Of Trend (SOT), TATASTEEL will become OVERSOLD on 11th September at Rs. 522.99.

Reliance is still very much range-bound and is not showing any appreciable change of trend 2050-2350 does seem to be the operational range right now.

Regards, DU

ABAN blazing !

Posted by : DUstocks

After seeking a new low near 2000, ABAN does seem to be spurting to better levels. Even as per Speed of Trend (SOT) analysis, ABAN is looking quite bullish.

Support & Resistance levels for ABAN for Monday, 8th September, 2008

[ R3 ] 2531.30
[ R2 ] 2428.10
[ R1 ] 2361.40
[ Piv ] 2258.20
[ S1 ] 2191.50
[ S2 ] 2088.30
[ S3 ] 2021.60

At the current Speed Of Trend, ABAN will become OVERBOUGHT (implying bullishness) on 16th September, 2008, at Rs. 2720.23 (CMP=2294).

Long Trade: Scrip should open above the Pivot Point(2258.20), cross R1(2361.40) and remain there for some time. Take a position with R2(2428.10) as target. Reverse for Short Trade.

If you can exploit the anticipated rally in ABAN, the accruing profits (hopefully) can substantially bring down the acquisition cost of your primary ABAN portfolio.

New contract rate are indeed far ABOVE expectations fot Venture Drilling AS, a company in which a subsidiary of Aban Offshore Ltd (Aban) has a 50% shareholding, has signed a 18 month contract with Maersk Oil Angola, at an operating day rate of US$495,000 after withholding tax. The contract is for a semi submersible Deep Venture. This contract is likely to commence in July 2009, in direct continuation of its present contract. The estimated revenue from the contract is approximately US$271mn. The day rate is 16.7% higher than our estimates of US$425,000 per day.

Over the last three months large drilling companies across the world have witnessed steep correction in their stock prices, with ABAN leading the sector. The fall was on the back of weakening sentiments for drillers as crude oil prices fell sharply from high of US$148 to below US$110. Such correction has only made the valuations more attractive to get into these counters as investments in E&P space has not slowed down.

The stock has seen a sharp correction from the levels of Rs5,125 in the first week of March 2008 to the levels of Rs2,121 in last week of August. We feel the stock has formed an intermediate bottom around the levels of Rs2,000. After consolidating between the levels of Rs2,020-2,150, it has formed an Upside Breakout formation on the daily charts, breaching through the trading range of last week. The daily oscillators are also showing signs of revival in the stock with RSI showing a positive crossover.

Historically, ABAN has clocked the highest operating margins in the industry at a global scale. Further, the growth rate expected for Aban over the next couple of years is higher than most of its peers. The stock is trading at a steep discount compared to its competitors. At CMP of Rs2,105 the stock is trading at a P/E multiple of 5.4x and 4.6x FY09E and FY10E respectively compared to international average of 9.9x and 7.7x on CY08E and CY09E. ABAN has remained relatively undervalued compared to global peers

Info : Courtesy M/S IndiaInfoline

Buy Aban Offshore, target of Rs 2560: India Infoline

Posted by : MMB Messenger

India Infoline has maintained its buy rating on Aban Offshore with a traget price of Rs 2560. Historically, Aban has clocked the highest operating margins in the industry at a global scale. Further, the growth rate expected for Aban over the next couple of years is higher than most of its peers.

ABAN blazing !

Posted by : DUstocks

After seeking a new low near 2000, ABAN does seem to be spurting to better levels. Even as per Speed of Trend (SOT) analysis, ABAN is looking quite bullish.

Support & Resistance levels for ABAN for Monday, 8th September, 2008

[ R3 ] 2531.30
[ R2 ] 2428.10
[ R1 ] 2361.40
[ Piv ] 2258.20
[ S1 ] 2191.50
[ S2 ] 2088.30
[ S3 ] 2021.60

At the current Speed Of Trend, ABAN will become OVERBOUGHT (implying bullishness) on 16th September, 2008, at Rs. 2720.23 (CMP=2294).

Long Trade: Scrip should open above the Pivot Point(2258.20), cross R1(2361.40) and remain there for some time. Take a position with R2(2428.10) as target. Reverse for Short Trade.

If you can exploit the anticipated rally in ABAN, the accruing profits (hopefully) can substantially bring down the acquisition cost of your primary ABAN portfolio.

New contract rate are indeed far ABOVE expectations fot Venture Drilling AS, a company in which a subsidiary of Aban Offshore Ltd (Aban) has a 50% shareholding, has signed a 18 month contract with Maersk Oil Angola, at an operating day rate of US$495,000 after withholding tax. The contract is for a semi submersible Deep Venture. This contract is likely to commence in July 2009, in direct continuation of its present contract. The estimated revenue from the contract is approximately US$271mn. The day rate is 16.7% higher than our estimates of US$425,000 per day.

Over the last three months large drilling companies across the world have witnessed steep correction in their stock prices, with ABAN leading the sector. The fall was on the back of weakening sentiments for drillers as crude oil prices fell sharply from high of US$148 to below US$110. Such correction has only made the valuations more attractive to get into these counters as investments in E&P space has not slowed down.

The stock has seen a sharp correction from the levels of Rs5,125 in the first week of March 2008 to the levels of Rs2,121 in last week of August. We feel the stock has formed an intermediate bottom around the levels of Rs2,000. After consolidating between the levels of Rs2,020-2,150, it has formed an Upside Breakout formation on the daily charts, breaching through the trading range of last week. The daily oscillators are also showing signs of revival in the stock with RSI showing a positive crossover.

Historically, ABAN has clocked the highest operating margins in the industry at a global scale. Further, the growth rate expected for Aban over the next couple of years is higher than most of its peers. The stock is trading at a steep discount compared to its competitors. At CMP of Rs2,105 the stock is trading at a P/E multiple of 5.4x and 4.6x FY09E and FY10E respectively compared to international average of 9.9x and 7.7x on CY08E and CY09E. ABAN has remained relatively undervalued compared to global peers

Info : Courtesy M/S IndiaInfoline