The announcement was made after market hours on Tuesday, 3 July 2012.

Meanwhile the BSE Sensex was down 32.47 points, or 0.19% to 17,393.24

On BSE, 1.98 lakh shares were traded in the counter as against average daily volume of 1.43 lakh shares over the past one quarter.

The stock hit a high of Rs 410.50 and a low of Rs 398.20 so far during the day. The stock had hit a 52-week low of Rs 320 on 4 June 2012. The stock had hit 52-week high of Rs 571.50 on 17 February 2012.

The stock had outperformed the market over the past one month till 3 July 2012, rising 12.81% compared with Sensex's 9.15% surge. The scrip, however, underperformed the market in past one quarter, sliding 12.46% as against Sensex's 0.98% fall.

The company has an equity capital of Rs 8.70 crore. Face value per share is Rs 2.

Cholamandalam Investment and Finance Company bought 30 lakh shares or 6.89% stake in Aban Offshore through acquisition of pledged shares. Mr Reji Abraham, a customer, had pledged shares of Aban Offshore to Cholamandalam Investment and Finance Company as security for extension of financial facility. Following the acquisition, Cholamandalam Investment and Finance Company's holding in Aban Offshore rose to 10.55% from 3.66%.

On a consolidated basis, Aban Offshore's net profit dropped 46.9% to Rs 80.53 crore on 10.6% fall in net sales to Rs 803.15 crore in Q4 March 2012 over Q4 March 2011.

Aban Offshore is India's largest offshore drilling contractor in the private sector, offering world-class drilling and oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.