Gulf Lubricants hits 52-week high after Morgan Stanley buys stake

Morgan Stanley Investment Funds Indian Equity Fund purchased 8.785 lakh shares of Gulf Oil Lubricants (India) at Rs. 810 a share on the BSE on Friday. Local Government Superannuation Scheme, an Australia-based pension fund manager, was the seller in this transaction. The number of shares sold represents 1.77 per cent stake of Gulf Oil Lubricants (India). The stock on Friday ended 1.19 per cent lower at Rs. 810 on the BSE.

Last year, Gulf Oil Lubricants India Limited (GOLIL) had entered into a strategic Original Equipment Manufacturer (OEM) tie-up with Bajaj Auto Limited to manufacture and supply lubricants. Under this tie-up, Gulf Oil (a Hinduja Group Company) will manufacture Bajaj Genuine Oil in their manufacturing facility and distribute these lubricants in Bajaj Auto’s dealer network as well as tap into the retail market through Gulf’s dealer network and in rural areas. Bajaj Genuine Oil, with its long drain interval of 10,000 km, is yet another addition to the company's range of products with differentiated value propositions. This first OEM tie-up in the two-wheeler segment will help the company grow further in the Motorcycle Oil segment where they have a strong presence in the retail market and also provide a platform to increase the reach of the Bajaj Genuine Oil in the markets.

The company has OEM partnerships with Ashok Leyland, Bharat Benz, Mahindra, Scania, Volvo, MAN and LT Komatsu as well. The company has targeted the commercial vehicles market in a bid to expand market share in the future.

Gulf Oil Lubricants India Limited manufactures, markets, and trades lubricants and oils for use in the automobile and industrial sectors in India and internationally. It also provides OEM range oil; motorcycle oil; passenger car motor oil; motor cycle battery; AdBlue, a solution of urea in demineralized water that helps in reducing emissions of nitrogen oxides; lubrication equipment; and automotive filters.