Aban Offshore's problems partly over, but still advise caution: Jagdish Malkani

In a chat with ET Now, Jagdish Malkani, Member, NSE & BSE shares his views on Aban Offshore and Selan Exploration. Excerpts:

ET Now: What is your call on Aban Offshore?

Jagdish Malkani: Well, oil stocks in general are on a tear today. Cairn is up and Aban in the past have run into huge problems of debt leverage and so on, and which they have partly addressed. It is also a great midcap stock and it is an F&O. So I would be cautious. In this sector there is one small cap stock, which I could talk about and that is Selan Exploration. It is run out of Delhi, but they have operations in Gujarat. That has not really moved, but it is well managed and under leveraged.

ET Now: What is your target on Selan?

Jagdish Malkani: In this silly season it could suddenly show a jump.