Essar Oil spurts on inking agreement with Indraprastha Gas

Nayara Energy Ltd. | Refineries | Oil & Gas | BSE: 500134 | NSE: ESSAROIL

09 Mar 2012 Evaluate

Essar Oil is currently trading at Rs 58.70, up by 3.25 points or 5.86% from its previous closing of Rs 55.45 on the BSE.

The scrip opened at its day’ high of Rs 64.50 and touched a low of Rs 55.75 respectively. So far 11, 23,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 147.80 on 11-Apr-2011 and a 52 week low of Rs 44.80 on 18-Jan-2012.

Last one week high and low of the scrip stood at Rs 64.50 and Rs 54.75 respectively. The current market cap of the company is Rs 7688.71 crore.

The promoters holding in the company stood at 15.96% while Institutions and Non-Institutions held 4.22% and 5.83% respectively.

Essar Oil has signed an agreement with Indraprastha Gas (IGL) to put up the latter’s CNG pumping facilities at Essar Oil’s outlets in the National Capital Region (NCR).

Essar Oil has been aggressively adding multi-fuel options for its customers and has tie-ups with Gujarat State Petroleum Corporation (GSPC), Mahanagar Gas (MGL), GAIL Gas, Sabarmati Gas, Adani Gas and Gujarat Gas Corporation for selling CNG sourced from these companies at its franchisee-owned and franchise operated outlets. For Auto LPG, Essar Oil has a similar tie-up with Aegis Logistics. The company has CNG facilities at 12 of its retail outlets in Gujarat and plans to add another 30 such facilities across its network.

The company is also increasing non fuel retailing activities at its retail outlets to provide an additional source of revenue for its franchisees. It has forged alliances with non-fuel retailers in segments like lubricants, food and beverages, agro products, telecom and banking & finance.

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