Sekhar told CNBC-TV18, "Large or small I don't think Aban Offshore is an investment stock. If one actually looks at balance sheet it is carrying with Rs 13,000 crore of debt; and under Rs 2,000 crore of networth and with less than Rs 1,000 crore of operating cash every year it beats me as to how they are ever going to repay their debt."
"Just because crude has been bouncing back after two-three weeks of decline and there might have some interest in Aban Offshore does not mean that investor should consider it favourably. It is a very highly leveraged stock and that is exactly the kind of stock and business that investors must proactively avoid in this kind of a market," Sekhar added.
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