Essar Oil drops after 3-day 16.3% rally

Meanwhile, the S&P BSE Sensex was down 272.97 points or 1.4% at 19,190.85.

On BSE, 2.23 lakh shares were traded in the counter as against average daily volume of 6.69 lakh shares in the past one quarter.

The stock hit a high of Rs 67.80 and a low of Rs 64.50 so far during the day. The stock had hit a 52-week low of Rs 46 on 31 August 2012. The stock had hit a 52-week high of Rs 96.15 on 4 February 2013.

The stock had underperformed the market over the past one month till 2 July 2013, sliding 11.51% compared with the Sensex's 1.5% fall. The scrip had also underperformed the market in past one quarter, declining 17.7% as against Sensex's 2.22% rise.

The large-cap company has equity capital of Rs 1427.59 crore. Face value per share is Rs 10.

Shares of Essar Oil had rallied 16.33% in three trading sessions to settle at Rs 67.65 on Tuesday, 2 July 2013, from a recent low of Rs 58.15 on 27 June 2013.

Essar Oil reported net profit of Rs 200 crore in Q4 March 2013, as against net loss of Rs 515 crore in Q4 March 2012. Net sales rose 34.4% to Rs 23534 crore in Q4 March 2013 over Q4 March 2012.

Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration and production to refining and oil retail.

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