No respite in sight for Aban offshore

The technical and fundamental picture for Aban Offshore is not likely to improve any time soon, according to A.K.Prabhakar, senior vice president of equity research at Anand Rathi, and Manish Hathiramani, proprietary trader and technical analyst at Deen Dayal Investments. Leverage concerns continue to dominate Aban’s outlook and unless the company manages to bring down its debt to manageable levels the cash flow position is unlikely to improve, the experts say.