SMALLCAP World Fund Inc. reduced its stake in Hinduja Group company to 2.99% on 22 September 2021 from 5% held earlier.
On 22 September 2021, SMALLCAP World Fund sold 9.98 lakh equity shares (2% equity) of Gulf Oil Lubricants. The transaction took place in open market on National Stock Exchange. The disclosure was made today, 25 September 2021.Gulf Oil Lubricants, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc. The company reported a 76.8% rise in net profit to Rs 30.35 crore on a 73% jump in net sales to Rs 417.37 crore in Q1 FY22 over Q1 FY21.
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