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Tide Water Oil soars on acquiring Price Thomas Holdings for 9.59 million pound

21 Apr 2016 Evaluate

Tide Water Oil Company (India) is currently trading at Rs 6378.00, up by 151.00 points or 2.42% from its previous closing of Rs. 6227.00 on the BSE.

The scrip opened at Rs. 6391.00 and has touched a high and low of Rs. 6580.00 and Rs. 6360.00 respectively. So far 2928 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 8317.25 on 07-Jan-2016 and a 52 week low of Rs. 3400.00 on 08-Jun-2015.

Last one week high and low of the scrip stood at Rs. 6580.00 and Rs. 6207.00 respectively. The current market cap of the company is Rs. 2223.65 crore.

The promoters holding in the company stood at 26.23% while Institutions and Non-Institutions held 11.44% and 59.87% respectively.

In a bid to expand market for its branded lubricant Veedol in Europe, Tide Water Oil Company (India) has acquired British lubricant firm Price Thomas Holdings (PTHL) for 9.59 million pound.

PTHL, a lubricant manufacturing unit in UK, will lend it space in the competitive European market. Tide Water, which signed the share purchase agreement on April 19, will not require any Government permission for the acquisition as it falls within the automatic overseas investment route.

PTHL’s gross revenue as on December 31, 2014 was 10.92 million pound with a corresponding PBT of 0.87 million pound. PTHL is a manufacturer and supplier of lubricants and car care products in the UK and in overseas automotive markets such as Ireland, Sweden and Bulgaria, while Tide Water Oil Company is a part of the multi divisional Andrew Yule group that has diverse interests in Engineering, Electrical, Tea Cultivation, Power Generation, Digital Communication Systems and Lubricants

Veedol Corporation Share Price

1425.35 -15.35 (-1.07%)
20-Apr-2026 14:20 View Price Chart
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