Essar Oil lost 2.87% to Rs 220.10 at 12:19 IST on BSE, with the stock declining on profit booking after gaining 10.42% in the preceding four trading days.
Meanwhile, the S&P BSE Sensex was down 146.19 points or 0.57% at 25,657.59
On BSE, so far 1.52 lakh shares were traded in the counter as against average daily volume of 2.46 lakh shares in the past one quarter.
The stock hit a high of Rs 225 and a low of Rs 218.30 so far during the day. The stock had hit a 52-week high of Rs 227.55 yesterday, 17 December 2015. The stock had hit a 52-week low of Rs 98 on 5 June 2015.
The stock had outperformed the market over the past one month till 17 December 2015, rising 6.31% compared with Sensex's 0.23% fall. The stock had also outperformed the market in past one quarter, surging 23.09% as against Sensex's 0.62% fall.
The large-cap company has equity capital of Rs 1512.59 crore. Face value per share is Rs 10.
Shares of Essar Oil had gained 10.42% in preceding four trading days to settle at Rs 226.60 yesterday, 17 December 2015 from a recent low of Rs 205.20 on 11 December 2015.
Meanwhile, bids were received for 4.68 crore or 32.9% of the total size of 14.24 crore shares as at 13:00 IST today, 18 December 2015 in the delisting offer that began on 15 December 2015. Essar Oil had on 7 December 2015 announced voluntary delisting of its equity shares from the BSE and the National Stock Exchange (NSE). The floor price for the delisting offer was set at Rs 146.05 per share. The reverse book-building offer closes to 21 December 2015.
Promoters owned 24.89% stake in Essar Oil (as per the shareholding as on 30 September 2015).
Essar Oil's net profit fell 14.1% to Rs 201 crore on 39.7% decline in total income to Rs 13734 crore in Q2 September 2015 over Q2 September 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.
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