Technical analyst Hitendra Vasudeo has maintained 'buy' rating on Essar Oil Limited stock to achieve a target of Rs 127.70.

The analyst said that the stock can be purchased with a stop loss of Rs 122.

The stock of the company, on March 28, closed at Rs 123.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 161 and a low of Rs 102 on BSE.

Current EPS & P/E ratio stood at 1.41 and 86.86 respectively.

Country's Essar Oil may postpone its projected refinery closure to September-October period from a planned May-June.

During January this year, Essar Oil stated that it decided to totally close down its 280,000 barrels per day (bpd) Vadinar refinery for a period of 35 days in May-June for expansion.

The company wanted to append novel units and increase capacitance to 360,000 bpd by the end of June 2011.

In addition, Essar Oil inked deals with KK Bangur controlled Graphite India for supplying 55,000 standard cubic meter per day of coal-bed methane latest by 2011's fourth quarterly period.