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GP Petroleums rises on plan to distribute its IPOL brand lubricant in UAE & Oman

23 Aug 2016 Evaluate

GP Petroleums is currently trading at Rs. 59.80, up by 2.15 points or 3.73% from its previous closing of Rs. 57.65 on the BSE.

The scrip opened at Rs. 60.40 and has touched a high and low of Rs. 61.10 and Rs. 59.40 respectively. So far 50,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 90.50 on 06-Jan-2016 and a 52 week low of Rs. 38.00 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 61.10 and Rs. 56.00 respectively. The current market cap of the company is Rs. 302.85 crore.

The promoters holding in the company stood at 72.24%, while Institutions and Non-Institutions held 0.09% and 27.67% respectively.

GP Petroleums, subsidiary of Gulf Petrochem Group, a UAE-based leading player in the oil sector will distribute Indian subsidiary GP Petroleums’ iconic IPOL brand of lubricant in the UAE and Oman, in partnership with NGC Energy and with National Gas Company SAOG in Oman over a period of five years.  Both partners have already set targets of 100 MT/month of lubricant volumes each in the UAE and Oman, by the end of the first year of trading. Operations are expected to fully commence in Q3 of 2016, with National Gas Co and NCG Energy currently recruiting additional sales staff and developing infrastructure facilities, including warehouses and delivery vehicles, as part of the agreement.

GP Petroleums is specialized in designing, manufacturing and marketing, industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India and internationally for more than four decades.


GP Petroleums Share Price

33.85 0.47 (1.41%)
17-Apr-2026 16:59 View Price Chart
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