Hold Aban Offshore, says Sharmila Joshi

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Hold Aban Offshore, says Sharmila Joshi

Hold Aban Offshore, says Sharmila Joshi, Investment Advisor.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about Aban Offshore See messages about Aban Offshore Aban Offshore BSE | NSE 30/05/12 Are Mutual Funds betting on Aban Offshore?

Hold Aban Offshore , says Sharmila Joshi , Investment Advisor.

Joshi told CNBC-TV18, "The uncertainty has ended in a sense that perhaps last week one was hearing that the management was not very keen on divesting their stake further and there was also some talk that they have to sell two of their rigs which were idle and all this because they have a debt component, which need to be paid off immediately and for which they urgently required to raise some money. But this QIP has kind of put that discussion to an end and now the market see that there will be a way out for that, so with this overall scenario for crude prices and the consensus being that they are heading upward from these levels. The outlook for this stock then becomes neutral from the kind of negative outlook earlier, so I would say from a slightly longer term perspective the stock is a hold. I don't really know what can happen in a couple of months but I think this positive sentiment that this QIP issues has had will rub off from the stock and I think that already has, so I would say that the stock remains a hold."