Essar Oil gains after Vadinar refinery commences operations

Essar Oil rose 1.09% to Rs 193.95 at 13:01 IST on BSE after the company said that the refinery at Vadinar, Gujarat has commenced operations on 17 October 2015 after the successful completion of planned shutdown.

The announcement was made during market hours today, 19 October 2015.

Meanwhile, the S&P BSE Sensex was up 158.83 points or 0.58% at 27,373.43

On BSE, so far 1.04 lakh shares were traded in the counter as against average daily volume of 3.33 lakh shares in the past one quarter.

The stock hit a high of Rs 196 and a low of Rs 192.50 so far during the day. The stock had hit a 52-week high of Rs 211.15 on 11 August 2015. The stock had hit a 52-week low of Rs 91.85 on 27 November 2014.

The stock had outperformed the market over the past one month till 29 July 2015, rising 4.21% compared with Sensex's 0.3% decline. The scrip had, however, underperformed the market in past one quarter, rising 0.42% as against Sensex's 1.24% gain.

The large-cap company has equity capital of Rs 1512.05 crore. Face value per share is Rs 10.

It may be recalled that Essar Oil had on 16 September 2015 informed about a planned shutdown to be undertaken by the company at its refinery at Vadinar, Gujarat for a period of 30 days from 18 September 2015 to 17 October 2015.

Essar Oil's net profit rose 53.8% to Rs 1063 crore on 33.7% decline in total income to Rs 16664 crore in Q1 June 2015 over Q1 June 2014.

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

Powered by Capital Market - Live News