Essar Oil gains post Q4 results; stocks upgrade

MUMBAI: Essar Oil reported 78 per cent jump in its fourth quarter net profit to Rs 321 crore, on back of record refinery throughput and higher margins. Revenues soared 24 per cent to Rs 14,846 crore in the fourth quarter.

Meanwhile, there are reports that Credit Suisse has upgraded the company's rating to outperform with increased price target to Rs 174 per share from Rs 155 per share.

The stock was at Rs 138.25, up 1.88 per cent on the BSE. It touched a high of Rs 138.75 and low of Rs 134 in trade so far.