Essar Oil spurted 6.19% to Rs 211 at 12:28 IST on BSE on reports the company is in talks to sell petrol to Iran and has signed its first-ever term contract with Tehran to import 1.6 million barrels of crude oil every month.
The stock hit a high of Rs 214.25 and a low of Rs 193.70 so far during the day. The stock had a 52-week high of Rs 360 on 3 January 2008 and a 52-week low of Rs 47.80 on 6 August 2007.
From a recent low of Rs 182.65 on 29 July 2008 the stock rose 8.78% to Rs 198.70 on 1 August 2008.
The company has an equity capital of Rs 1263.45 crore. Face value per share is Rs 10.
Essar Oil reported a net profit of Rs 29.93 crore in Q1 June 2008 as against a net loss of Rs 5.67 crore in Q1 June 2007. Sales surged 4578% to Rs 8950.47 crore in Q1 June 2008 over Q1 June 2007.
Essar Oil has three main divisions -- energy, offshore exploration and petroleum products. Its offshore division undertakes construction related to the oil industry for extraction of oil and/or gas reserves.
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