nitinpahuja
Nitin Pahuja
Highlights
• Despite the dismal performance over the past week, this stock has been the performer of the week. In fact, it has shown growth over the last week for no reason and yet it remains one of the favorites of most punters.
• Essar Oil is up on strong volumes once again. The stock, which has been moving up the charts almost uninterrupted over the past few sessions, has posted a big gain now. On the National Stock Exchange, the Essar Oil counter has already clocked a volume of more than 11.13 million shares this morning.
• Owned by the Mumbai-based Ruias, Essar is the second largest private refiner in India's state-dominated oil sector. As Asia is adding refining capacity to feed demand in developed nations, where there has been little expansion in recent years, and India hopes to become a regional refining centre.
• Top listed firm Reliance Industries Ltd and Essar's bigger rival, runs a 660,000 bpd refinery in Gujarat.
ESTIMATES 2007
Net income (Rs. Mn) 581.22
Net profit (Rs. Mn) -67.49
EPS -0.59
P/E -1827.53
Book Value 26.28
• On these lines Essar’s declaration of increase in capacity amounting to $6 billion was well received by the market.
• India being the third largest oil consumer, domestic demand itself is large. However, the competition in the industry is not just tough but demanding.
• Despite the dismal performance over the past week, this stock has been the performer of the week. In fact, it has shown growth over the last week for no reason and yet it remains one of the favorites of most punters.
• Essar Oil is up on strong volumes once again. The stock, which has been moving up the charts almost uninterrupted over the past few sessions, has posted a big gain now. On the National Stock Exchange, the Essar Oil counter has already clocked a volume of more than 11.13 million shares this morning.
• Owned by the Mumbai-based Ruias, Essar is the second largest private refiner in India's state-dominated oil sector. As Asia is adding refining capacity to feed demand in developed nations, where there has been little expansion in recent years, and India hopes to become a regional refining centre.
• Top listed firm Reliance Industries Ltd and Essar's bigger rival, runs a 660,000 bpd refinery in Gujarat.
ESTIMATES 2007
Net income (Rs. Mn) 581.22
Net profit (Rs. Mn) -67.49
EPS -0.59
P/E -1827.53
Book Value 26.28
• On these lines Essar’s declaration of increase in capacity amounting to $6 billion was well received by the market.
• India being the third largest oil consumer, domestic demand itself is large. However, the competition in the industry is not just tough but demanding.