Essar Oil soars 11% on Rs 660 cr profit

The stock finally ended 11% higher at Rs 177. Around 5.5 million shares were traded on the counter today.
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(Updated at 1111hrs)

Essar Oil has surged 14% after the company reported a hefty profit for the Q4.

The stock today opened flat at Rs 158, but soon zoomed to a high of Rs 183, up 16% from the previous close. The stock is currently trading at Rs 181, up 14%. The stock has so far clocked a hefty volume of 2.82 million shares as against its two-week daily average traded volume of around 2.10 million shares on the BSE.

The Ruias-promoted Essar Oil posted a net profit of Rs 660 crore for the fourth quarter ended March 31, 2009, against a net loss of Rs 8 crore during the same quarter in 2008.

 

Click here to read more:  Essar Oil's Q4 net at Rs 660 crore