Buy Essar Oil, says Sudarshan Sukhani

Buy Essar Oil, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Essar Oil is not an active stock but it has been doing the right things, making trading ranges and breaking out. There is a step by step rally in Essar Oil for sometime now. Three days ago Essar Oil broke out from a trading range, yesterday it built on those gains. So here is a stock that is telling us that trend is up, the results are good, market has liked it and probably more momentum is possible today. And then the rub-off from Reliance could also come today itself, so it is a very interesting buy."
The share touched its 52-week high Rs 77.70 and 52-week low Rs 44.80 on 17 January, 2013 and 18 January, 2012, respectively. Currently, it is trading 1.09% below its 52-week high and 71.54% above its 52-week low. Market capitalisation stands at Rs 10,495.15 crore.
The company's trailing 12-month (TTM) EPS was at Rs 4.79 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 16.04. The latest book value of the company is Rs 25.66 per share. At current value, the price-to-book value of the company was 2.99.