The stock has good support at 920-900 levels and 960 is a strong resistance. Hold with a stop loss of 900. Buy at lower levels. The company has huge asset base. Crude is rising so refining margins are likely to remain steady. The stock has underperformed in the last 1.5 years so there is limited downside. The stock is likely to touch 1250 in 12-18 months.

Shares of the company gained Rs 2.90, or 2.77%, to settle at Rs 107.60. The total volume of shares traded was 800,762 at the Bombay Stock Exchange. It will get Rs 9.40 billion in the Tier I capital by way of preferential allotment of equity in favour of Government of India. The short term target is Rs 117, but if it is crossed successfully, then the stock may go above Rs 140. Good buy for long term also. The stock is trading at a low P/E of little over 5, when peer P/E is above 10.

Shares of the company gained Rs 0.30, or 0.31%, to settle at Rs 97. The total volume of shares traded was 127,718 at the BSE. It will receive Rs 3.08 billion by way of preferential allotment of equity in favour of GoI. Even this stock is in resistance range till Rs 106, but crossover can take it to Rs 120 plus levels. Good buy at current levels.