Essar Oil, one of the leading player in energy sector and a subsidiary of Essar Energy plc, witnessed a sharp rise in share price on Tuesday after media reported said that Essar Oil has received the consent from NSE for delisting. The company is now awating nod from the BSE.

A daily financial stated that, "Earlier, the company had been in talks with Russian oil firm Rosneft over a deal to sell a key stake in its refinery in western India. But discussions have slowed over clashes on the plant's valuation."

Shares of Essar Oil are trading at Rs 181.05, up Rs 7, or 4.02% at the Bombay Stock Exchange (BSE) on Tuesday at 12:18 p.m. The scrip has touched an intra-day high of Rs 184.80 and low of Rs 175.20. The total volume of shares traded at the BSE is 1,211,052.

Crude oil prices are also trading higher in futures market on Tuesday. Light sweet crude oil (WTI) futures went up 0.43 dollar or 0.82 percent to trade at USD 52.96 a barrel at the New York-based commodity exchange NYMEX.

Brent crude oil futures rose 0.46 dollar or 0.81 percent to trade at USD 57.00 a barrel at NYMEX. Natural gas futures went up 0.015 dollar or 0.544 percent to trade at USD 2.771 a gallon at the NYMEX.