Gulf Oil Corporation soars after huge block deals

At 0919 hours, about 29.7 million equity shares or 60% of total equity of Gulf Oil Corp have changed hands on the BSE.

Shares of Gulf Oil Corporation has soared 17% to Rs 165 on the Bombay Stock Exchange (BSE) after a huge block deal executed on the counter.

At 0919 hours, about 29.7 million equity shares representing 60% of total equity of Gulf Oil Corporation have changed hands at price of Rs 157 per share, BSE data shows.

The name of the buyers and sellers are not immediately known.

Gulf Oil Internationl (Mauritius) Inc, the promoter of the Gulf Oil Corporation holds 59.95% in the company as on December 31, 2014, the shareholding pattern data shows.

The stock opened at Rs 148 and hit a high of Rs 169 on BSE so far.