Essar Oil gains on retail revamp move

Essar oil gave up some of its gains and finally settled at Rs 140, up around 2% from the previous close. The counter witnessed heavy trades of 658,518 million shares as compared to 248,533 million shares.
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(Updated at 1032hrs)

Essar Oil has gained following its tie-up with food and banking companies to up market share.

The stock opened at Rs 139 and surged to a high of Rs 142 - up 4% from the previous close. It is now up 3% at Rs 141. Around 582,722 shares have been traded on the BSE so far.

The company has enhanced facilities through tie-ups at 1,250 outlets. It has already tied up with Tata group firm Rallis, National Seeds Corporation and Amul for strengthening the added facilities at rural outlets.

Also read: Essar Oil revamping its retail fuel outlets