Aban will be listing its 100% subsidiary - Aban Singapore (which in turn owns a few rigs and 100% of Sinvest, Norway) in the Singapore Stock Exchange. Aban hopes to raise something like $400 million - this should give some relief to the balance sheet.
By the way, there is a huge discrepancy between EPS estimates of Sharekhan (Rs. 109, 391, 506 for FY08, 09, 10) and Emkay (Rs. 117, 274, 383 for FY08, 09, 10). Looks like Sharekhan is ignoring the equity dilution possibility. But the management has probably given a guidance of Rs. 1,800 crores net profit for FY10 - so all brokerages including Citigroup/Merrill Lynch are carrying this number.
| punters on aban and other oil stocks may please read www.debka.com the intelligence website from israel. it has regular stories on the situation in the middle east. what if the US attacks Iran and countries like syria and the hamas retaliate by striking israel. |
No need to pray for a War in Middle East or a hurricane to strike USA. All one needs to do is keep track of the prices at which rigs are rented out. If rig contracts are re-negotiated at higher price, things are going well. Else, it might be the right time to bail out of the stock.
| right now aban's balance sheet shows the company is floating on hopes.... |
Borrowing from the movie Matrix -
Hope. It is the quintessential human delusion, simultaneously the source of our greatest strength and our greatest weakness.
Edited by smartcat - 14/Oct/2007 at 12:34pm
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