Meanwhile, the BSE Sensex was down 90.09 points, or 0.61%, to 14,567.90.

On BSE, 27.54 lakh shares were traded in the counter. The scrip had an average daily volume of 36.04 lakh shares in the past one quarter.

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 large-cap private sector oil refiner had outperformed the market over the past one month till 1 August 2008, rising 17.75% compared to the Sensex’s rise of 11.93%. It had, however, underperformed the market in the past one quarter, declining 29.44% compared to Sensex’s decline of 16.72%.

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.