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Shares of Aban Offshore soared over 9 per cent on Friday after the company said it has secured two orders worth Rs 1,114 crore from ONGC.
The company’s scrip surged 9.43 per cent to settle at Rs 621.50 on the BSE. During the day, it climbed 14.62 per cent to Rs 651.
At the NSE, the stock rose by 9.15 per cent to end at Rs 621.20.
Following the rally in the stock, the company’s market value surged Rs 450.93 crore to Rs 3,533.93 crore.
Aban Offshore in a filing to the BSE said it has secured an 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 $ 91.33 Million (equivalent to Rs 557 crore). Contract is expected to commence during the first quarter of calendar year 2015, it said.
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 $ 91.33 million (equivalent to Rs 557 crore). Contract is expected to commence during the first quarter of calendar year 2015, the filing added.
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