Gulf Oil Lubricants’ stock jumps 4% after partnering with Nayara Energy

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Shares of Gulf Oil Lubricants India Ltd surged 3.96 per cent to ₹1,216.45 on the BSE at 12.45PM on Tuesday, following the announcement that it has signed a strategic partnership to enhance the availability of Gulf’s premium automotive lubricants and AdBlue across the nation with Nayara Energy, India’s private fuel retailer on December 24.

According to its exchange filing, this three-year agreement would see Gulf’s complete range of lubricants, including those for two-wheelers, cars, commercial vehicles, and agricultural vehicles, become readily accessible at over 6,500 Nayara Energy fuel stations nationwide. 

Furthermore, this collaboration aims to significantly expand Gulf Oil’s market presence and accessibility to a wider consumer base, leveraging Nayara Energy’s extensive retail network to provide a comprehensive range of high-quality Gulf lubricants, including engine oils, gear oils, and other automotive fluids. 

During the session, it hit an intra day high of ₹1,230.05 and low of ₹1,177.55 on the BSE.

The stock hit a 52 week high of ₹1,510.00 on September 2, low of ₹703.15 on January 10 on the BSE.