GP Petroleums shines on inking distributorship agreement with NOOR Trading
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GP Petroleums is currently trading at Rs. 73.79, up by 3.65 points or 5.20% from its previous closing of Rs. 70.14 on the BSE.
The scrip opened at Rs. 74.01 and has touched a high and low of Rs. 75.00 and Rs. 73.10 respectively. So far 55047 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 81.46 on 30-Jan-2024 and a 52 week low of Rs. 30.90 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 75.00 and Rs. 60.03 respectively. The current market cap of the company is Rs. 374.74 crore.
The promoters holding in the company stood at 63.44%, while Institutions and Non-Institutions held 0.97% and 35.59% respectively.
GP Petroleums has entered into a Distributorship agreement with M/s NOOR Trading, Bangladesh on February 17, 2024. This agreement is effective from February 01, 2024, and enables the marketing, advertising, promotion, import, distribution, supply and sale of 'REPSOL' products in the territory of Bangladesh. These products are manufactured and marketed by GP Petroleums under the license from REPSOL LUBRICANTES Y ESPECIALIDADES S.A., Spain.
This strategic partnership is expected to not only strengthen its market presence but also to enhance export sales, facilitating the seamless distribution of 'REPSOL' products to a broader market.
GP Petroleums is a leading lubricant player, specializes in industrial & automotive lubricants, process oils, transformer oils, greases and other specialties under the brand name IPOL in India and overseas market.
