Introduction:
Leading oil company has renewed its partnership with a commercial vehicle manufacturer until 2030. The collaboration focuses on delivering high-performance, co-branded lubricants, enhancing solutions for retail, factory-fill, and export markets in the vehicle segment.
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Share price movement of Gulf Oil Lubricants India Limited:
On November 26, 2024, Gulf Oil Lubricants India Ltd opened at ₹1084.05, up 1.96% from ₹1063.20. The stock reached a high of ₹1107.20 (4.14%) and a low of ₹1069.55. By 12:57 PM, it traded at ₹1107.20, with a market cap of ₹5,499.71 crore.
Gulf Oil and Piaggio extend partnership:
Gulf Oil Lubricants India Limited and Piaggio Vehicles Pvt Ltd have renewed their strategic partnership until 2030. The collaboration aims to deliver high-performance, co-branded lubricants for Piaggio’s commercial vehicles, focusing on retail, factory-fill, and export markets.
The partnership, established in 2020, has already developed customized lubricants for Piaggio’s diverse vehicle range, including BS VI and electric models. This agreement strengthens the companies’ commitment and offers solutions to Piaggio India’s channel partners and customers.
The renewal agreement was signed by Mr. Diego Graffi, Chairman & MD of Piaggio Vehicles Pvt Ltd, and Mr. Ravi Chawla, MD & CEO of Gulf Oil Lubricants India Limited. Both companies aim to drive growth in the commercial vehicle lubricants segment with this extended collaboration.
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Recent news on Gulf Oil Lubricants India Limited:
As of October 30, 2024, Gulf Oil Lubricants India Ltd. appointed Abhijit Kulkarni as Chief Commercial Officer. With over 20 years of experience, he will lead B2C and B2B segments, focusing on brand growth, strategic marketing, and operational synergies.
Stock performance of Gulf Oil Lubricants India Limited for Period of 1 week, 6 months and 1 year:
Gulf Oil Lubricants India Limited recently saw a 1.86% decline over the past week. However, the company continues to show strong growth with a 13.0% return over the past 6 months and an impressive 67.6% return over the past year.
Shareholding pattern of Gulf Oil Lubricants India Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 67.20% | 71.80% | 71.80% |
| FII | 7.10% | 5.70% | 7.10% |
| DII | 9.90% | 6.20% | 5.30% |
| Public | 15.90% | 16.40% | 15.80% |
About the company Gulf Oil Lubricants India Limited:
Gulf Oil Lubricants India Limited (NSE: GULFOILLUB), part of the Hinduja Group, is a leading lubricant provider in India, offering a range of products. It has a strong distribution network, global presence, and partnerships in automotive, industrial sectors, and electric mobility.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
