Stock market analyst Deepak Singh has maintained 'buy' rating on Essar Oil Ltd stock with short term target of Rs 155.

According to analyst, the investors can buy the stock stop loss of Rs 137.

The stock of the company, on July 04, closed at Rs 140.35 on the Bombay Stock Exchange (BSE). Current EPS is -5.23.

The share price has seen a 52-week high of Rs 174.90 and a low of Rs 117 on BSE.

Essar Oil has decided to fast track the launch of its fuel retail outlets with the aim that they can hit the 1,750 figure by March 2011.

Following the Centre's verdict to deregulate the petroleum price, the company will also be capable of selling fuel at the same cost as administration-owned marketing firms -- thereby increasing sales figures.

Presently, the company owns 1,342 outlets.

On June 26, Essar Oil has been announced winner for 4 Coal Bed Methane (CBM) blocks.

The declaration made by the Cabinet Committee on Economic Affairs (CCEA) has sanctioned award of 7 exploration blocks under the CBM-IV bid round that was started in October 2009 with 10 CBM blocks on offer.