Share Trading Tips

The Ruia-owned company’s stock rose close to 10 per cent during the fortnight, on higher volumes. The stock gained after the parent, Essar Energy, announced plans to list on the London Stock Exchange (LSE). After opening on a weak note on April 8, the scrip zoomed almost 6 per cent to touch a high of Rs 154. In a negative market, the stock pared some of its gains and finally settled at Rs 150.40 for the day, up 3.23 per cent on the BSE. The promoters say the process has been initiated to seek regulatory approvals for a $2.5 billion public offer for Essar Energy on the LSE. Bijt the company has clarified that it will not delist Essar Oil from the domestic bourses. Essar Energy Holdings has 88.40 per cent in Essar Oil, which operates a 14 mtpa refinery at Vadinar in Gujarat.