Essar Oil in the green
By
Research Desk
about 9 years ago
Essar Oil is a big gainer on the BSE today. The stock opened higher and went on to hit an intra day high at Rs.110.05. It is currently up almost 3% at Rs.109.20.
The stock is up, reacting to its announcement yesterday after market hours that it has commissioned the second Hydrogen Manufacturing Unit (HMU) of 105 Knm3/hr capacity at company's refinery, which would provide flexibility and reliability to overall refinery operations.
The company had a flat performance for Q2FY15 with 1% (YoY) rise in revenue at Rs.435 crore and net profit up 4% at Rs.96 crore. Essar Ports is one of the largest port companies of India, with a current capacity of 104 MMTPA. The capacity is being expanded to 194 MMTPA over the next few years.