Sharemasterindia.com: Essar Oil shares surged as much as 5.1 per cent on Thursday to Rs 198.35 after Russia's Rosneft signed a deal to acquire up to 49 per cent stake in its Vadinar oil refinery.
Refining accounts for over 95 per cent of Essar Oil's overall business. Rosneft also hinted at plans to increase the refinery's capacity to 45 million tonnes (900,000 barrels per day) by 2020.