Hang-over of good times

We all know that the market conditions that have prevailed for the past 15 months have been bad. While most companies have been battered and bruised, for some the plummeting markets have been nothing short of downright barbarous. One such company is Aban Offshore, India's largest private sector offshore drilling services provider. Aban's stock is down by 94 per cent from the peak it achieved on January 4, 2008. Its fall is just four per cent lower than the worst performing company on the Bombay Stock Exchange (BSE). The prime reason behind the stock being hammered so badly is the concern over the company's high debt position. Aban Offshore was established in 1986 as an offshore dril

This article was originally published on April 20, 2009.