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Gulf Oil Corporation spurts on inking JDA for developing 76 acres of Hyderabad land

31 Jul 2012 Evaluate

Gulf Oil Corporation is currently trading at Rs 92.75, up by 6.05 points or 6.98% from its previous closing of Rs 86.70 on the BSE.

The scrip opened at Rs 88.00 and has touched a high and low of Rs 96.40 and Rs 87.00 respectively. So far 367752 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 100.70 on 13-Jul-2012 and a 52 week low of Rs 52.25 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs 96.40 and Rs 83.55 respectively. The current market cap of the company is Rs 920.56 crore.

The promoters holding in the company stood at 49.96% while Institutions and Non-Institutions held 6.08% and 43.96% respectively.

Gulf Oil Corporation, the Hinduja group Company, has entered into a joint development agreement (JDA) for development of approximately 76 acres of the company’s land located at Kukatpally in Hyderabad. The company has entered into JDA with Hinduja Estates after several discussions on July 30, 2012.

The sharing ratio by both has been agreed at 35:65 based on the recommendations of reputed property consultants.

Gulf Oil Corporation is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations

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