Essar Oil Surges to Highest Price in 4 Years on Rosneft Report
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Essar Oil Ltd., India’s second-biggest non-state oil refiner, jumped to the highest level in more than four years in Mumbai following reports OAO Rosneft may acquire a 50 percent stake.
The shares climbed 4.7 percent to 146.25 rupees, the highest since November 2010. The stock surged 42 percent last week, the most since the period ended April 2009.