Update on ABANOFFSHORE, Company has failed to repay Rs.200crs of short term debt and Rs.1535crs is due this month and the company has total debt of Rs.16685crs as per media report please read fully this is just a view
On Sunday, December 6, 2009 we posted on ABAN where the stock is Technically weak and fundamentally also Debt is too high for them to service was said http://akprabhakar.blogspot.com/2009/12/aban-offshore-looking-weak-below-1200.html and now there are reports which suggest that Company has failed to pay Rs.200 of short term debt and other details with link is given below
ABANOFFSHORE in debt trouble the company has total debt of Rs 16,635cr, most of which was taken during its acquisition of Norway’s Sinvest in 2006. The situation has reached a flashpoint, with the Chennai-based drilling firm failing to repay Rs 200 crore of short-term debt recently. Another Rs 1,535 crore of repayment is due this month. http://www.business-standard.com/india/news/aban-offshore-in-debt-trouble/387582/
Point to note: The view above is expressed for investor to take additional information about a company and not for traders to short sell. ABAN in my view has a target of Rs.780 on downside and this may happen or may not happen as market has its own direction and own reason. http://prabhakar-views.blogspot.com/2010/02/caution-to-investors-from-sebi.html The following caution is issued by SEBI in the interest of investors. Be extra cautious while using information available from media sources such as Websites/ Blogs/ Newspaper Advertisements/ SMS’s Emails/rumours/ advice through television or print media for information and tips for intra-day, short term or long term investing.
