Dec 18, 2013, 02.19 PM IST
The London-listed power, oil and gas arm of privately held Indian conglomerate Essar Group said energy demand in India will continue to remain strong for many years and that it was well placed to meet that demand.
Tags Essar Energy Plc, Essar Oil, Essar Shipping
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Essar Energy reiterates outlook, shares rise
The London-listed power, oil and gas arm of privately held Indian conglomerate Essar Group said energy demand in India will continue to remain strong for many years and that it was well placed to meet that demand.
Like this story, share it with millions of investors on M3
Essar Energy reiterates outlook, shares rise
The London-listed power, oil and gas arm of privately held Indian conglomerate Essar Group said energy demand in India will continue to remain strong for many years and that it was well placed to meet that demand.
The London-listed power, oil and gas arm of privately held Indian conglomerate Essar Group said energy demand in India will continue to remain strong for many years and that it was well placed to meet that demand.
"Although our recent share price performance has been disappointing, our underlying business is strong and our future prospects remain positive," Essar Energy Chairman Prashant Ruia said in a statement on Wednesday.
Shares in the company were up 2 percent at 72.30 pence at 0823 GMT, making it one of the top percentage gainers on the FTSE-250 Midcap Index. The stock has fallen nearly 30 percent since the company announced a first-half loss on November 25.
Essar added that its operational performance was currently in line with expectations and its outlook remains unchanged.
Essar Oil stock price
On December 18, 2013, Essar Oil closed at Rs 51.45, up Rs 1.05, or 2.08 percent. The 52-week high of the share was Rs 96.15 and the 52-week low was Rs 46.05.
The latest book value of the company is Rs 8.12 per share. At current value, the price-to-book value of the company was 6.34.
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