Gulf Oil Corporation has surged 6% to Rs 124, extending its 6% rally in past two trading sessions after the company said its promoter, Gulf Oil International (Mauritius) Inc. has recently acquired additional shares to the extent of 4.99% for about Rs 53 crore through open market.
This has increased its shareholding in the company to 54.96%. With this, the company becomes subsidiary of Gulf Oil International (Mauritius) Inc., according to a statement filed with the exchange.
On March 27, 2014 Gulf Oil International (Mauritius) Inc had purchased 4.95 million shares at price of Rs 107 per share, according to information available on the NSE.
Meanwhile, Afrin Dia had sold 2.82 million shares, while Bridge India Fund offloaded 2.13 million shares, the bulk deal data shows.
The stock opened at Rs 120 and hit a 52-week high of Rs 126 on the NSE. A combined 978,914 shares changed hands on the counter so far on the BSE and NSE.
This has increased its shareholding in the company to 54.96%. With this, the company becomes subsidiary of Gulf Oil International (Mauritius) Inc., according to a statement filed with the exchange.
On March 27, 2014 Gulf Oil International (Mauritius) Inc had purchased 4.95 million shares at price of Rs 107 per share, according to information available on the NSE.
Meanwhile, Afrin Dia had sold 2.82 million shares, while Bridge India Fund offloaded 2.13 million shares, the bulk deal data shows.
The stock opened at Rs 120 and hit a 52-week high of Rs 126 on the NSE. A combined 978,914 shares changed hands on the counter so far on the BSE and NSE.
