Long term contracts News
Limited downside for Aban Offshore
Aban Offshore plans to seek shareholders' approval to raise funds to the tune of Rs 4,300 crore this month, in what is perceived to be a positive move, but not positive enough to perk up the stock. Analysts feel the move is necessary for capex and the retiring part of Aban's high debt (Rs 13,048 crore at the end of FY11). But, it would also mean a substantial equity dilution, given the company's current
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