Gulf Oil promoters exchange 28% stake

The promoters of Gulf Oil - Gulf Oil International (Mauritius) Inc and NN Investments BV - today reported a swap of 39,25,980 shares accounting for 28.30% of the paid-up capital of the company.

According to a release issued by Gulf Oil to the BSE today, Gulf Oil International (Mauritius) Inc has acquired 39,25,980 shares from NN Investments BV to hike its stake in the company to 49.03%. The shareholding of NN Investments stands reduced to nil, the release added.

The stock was trading with a gain of 1% at Rs 1,400 on the BSE at 1345 hrs today.