Gulf Oil Corp gains after promoter buys additional stake - The New Indian Express

Gulf Oil Corp gains after promoter buys additional stake

Published: 09th April 2014 12:19 PM

Last Updated: 09th April 2014 12:19 PM

Gulf Oil Corporation, a Hinduja Group Company, gained on Wednesday after the company's promoter, Gulf Oil International (Mauritius) (GOIMI) has recently acquired additional shares to the extent of 4.99%, increasing their shareholding in the company to 54.96%.

With this, the company becomes subsidiary of GOIMI.Shares ofthe companyare trading at Rs 119, up Rs 2.7, or 2.32% at the Bombay Stock Exchange (BSE) on Wednesday at 11:19 a.m.The scrip has touched an intra-day high of Rs 120.95 and low of Rs 118. The total volume of shares traded at the BSE is 86,720.In the earlier session, the shares climbed 2.78%, or Rs 3.15, at Rs 116.30. Currently, the stock is trading all time 52-week high, which is above 103.59% over the 52-week low of Rs 58.45.

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