Aban Offshore may test Rs 560- 575, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "Aban Offshore has led because we know- 1 FII has seen increase or having bought about 1% stake in the company and if you see the stock was or the counter was quite heavily oversold in fact for last consecutive 3 months because nobody had the confidence."
He further added, "Company had all the problems of deploying their rigs. In fact the one rig which got damaged they have the problems in getting the insurance claims also. So in view of this all negative news and if someone is buying 1% on the delivery base obviously we have been seeing huge short covering happening in that stock and probably in my view that short covering should stop and may be at about Rs 560- 575 again we may see the profit booking happening again in the stock."
