Essar Oil is on fire today at Rs 167 !.There are strong indicators that the Russian Oil Giant is acquiring a major stake but Company keeps repeatedly denying this
Today’s extremely high abnormal volumes on BSE & NSE give a strong signal
In Mid 2014 I had raised strong views on Essar Oil trying to short minority shareholders by wanting to delisting at a low price.Later in the year it announced a floor price of Rs 108 but the effort was rightly thwarted as the price was simply too low !
I had blogged on this and was also covered by Outlook Business…here are the two postsCovered by Outlook Business for frowning on Essar Oil Delisting Wednesday, July 23rd, 2014LIC will never go Public & Essar Oil wants to go Private ! ~ What is the Connection !? Saturday, June 21st, 2014