Stock market analysts have maintained 'buy' rating on Essar Oil Ltd with an intraday target of Rs 148.

According to them, interested traders can purchase the stock above Rs 144 with a strict stop loss of Rs 141.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 152.

Shares of the company, on Wednesday (Dec 10), closed at Rs 143.70 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 194 and a low of Rs 60.10 on BSE.

Current EPS & P/E ratio of the stock stood at 3.04 & 47.53 respectively.

Essar Oil is eyeing to enter into an agreement with Royal Dutch Shell at $1-1.2 billion for purchasing the global petroleum giant's 3 refineries in the European market.

EOL has presented its valuation of assets to the Shell management and the talks are near conclusion.

A group of Essar Oil is in London, talking on the matters linked to amalgamation of assets.

Group chief executive Prashant Ruia, son of Chairman Shashi Ruia, has already finished some rounds of discussions with Shell administration.

Essar Group is eyeing to obtain the assets in an all-cash deal.

A representative of EOL stated that they're in exclusive talks with Shell and it is not the company's policy to remark on their future plans and timelines.