Gulf Oil Lubricants climbs on entering into strategic partnership with Nayara Energy

Gulf Oil Lubricants India is currently trading at Rs. 1205.20, up by 35.05 points or 3.00% from its previous closing of Rs. 1170.15 on the BSE.

The scrip opened at Rs. 1180.80 and has touched a high and low of Rs. 1230.05 and Rs. 1177.55 respectively. So far 7130 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1510.00 on 02-Sep-2024 and a 52 week low of Rs. 703.15 on 10-Jan-2024.

Last one week high and low of the scrip stood at Rs. 1230.05 and Rs. 1136.05 respectively. The current market cap of the company is Rs. 5908.90 crore.

The promoters holding in the company stood at 67.22%, while Institutions and Non-Institutions held 16.92% and 15.86% respectively.

Gulf Oil Lubricants India has entered into a strategic partnership with Nayara Energy, India's largest private fuel retailer and an integrated downstream company with a strong presence across the hydrocarbon value chain from refining to retail. This partnership will see the company's entire automotive product range, including lubricants for two-wheelers, passenger cars, commercial vehicles, and agriculture-related vehicles, being made available across Nayara Energy's extensive network of 6500+ fuel retail outlets nationwide. This strategic alliance is part of a 3-year contract leveraging Nayara Energy's reach to further strengthen the company's brand presence and product availability to cater to the expanding automotive market, particularly along the country's rapidly developing highway infrastructure in India. 

Under this collaboration, the company's AdBlue - a high-quality diesel exhaust fluid that reduces harmful emissions - will be the exclusive AdBlue product retailed across Nayara Energy's network, along with offering a specialized range of two-wheeler batteries, expanding both companies' portfolios in a growing sector. The company already has an established distribution network through depots and various other touchpoints for AdBlue, and this partnership further enhances that reach. The company and Nayara Energy are jointly committed towards bringing world-class, reliable automotive products to a broader audience across urban and rural regions.

Gulf Oil Lubricants India, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc.