Fundamentals have got poor over last few years. EIL' s core high margin business- consultancy is dwindling, the share of very low turn key projects business is increasing. Low oil price over last 5 years have dented new orders in Middle east also. Acquiring a small stake of 4.93% in Numaligargh Refinery and squandering cash reserves of appx 800 Cr is for the benefit of the Govt. and doesn't add any good earning power to EIL. Technically it is a good chart of course.