Company Profile

With reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded, GP Petroleums has submitted a copy of Clarification.

The above information is a part of company’s filings submitted to BSE.

GP Petroleums has resumed operations at its Vasai plant and will prioritise supply to essential services sectors such as sugar and power generation industries in these difficult and trying times arisen out of the spread of global pandemic COVID-19.

The company plans to operate the 80,000 tonnes Vasai lubricant plant at required capacity as per the permissions received and will be managing daily functioning as per government guidelines with a 50 percent headcount, as most of the workers reside near the plant. The company shall be following the necessary Government directive with respect to safety guidelines and percentage of deployment of staff, and after taking due care of all preventive measures like social distancing, safety & security, sanitization etc. as may be required for prevention of COVID-19.

GP Petroleums, a part of the UAE based GP Global, is into manufacturing of industrial and automotive lubricants, process and transformer oils, greases and other specialties under the brand name IPOL in the country and overseas market.

Glenmark Pharmaceuticals has received approval from the Drug Controller General of India (DCGI), the regulator in India to conduct clinical trials on Favipiravir Antiviral tablets on COVID-19 patients. The product is a generic version of Avigan of Fujifilm Toyama Chemical Co., Japan, a subsidiary of Fujifilm Corporation. Favipiravir has demonstrated activity against influenza viruses and has been approved in Japan for the treatment of novel influenza virus infections.

Global financial services group Manulife has acquired 49 percent stake in Mahindra Asset Management Company (Mahindra AMC), a wholly-owned subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance). Under the agreement, which was announced in June 2019, Manulife has invested $35 million or Rs 265 crore to pick up 49 percent stake in Mahindra AMC.  The Singapore arm of Manulife, Manulife Investment Management (Singapore) Pte, has bought 49 percent stake in the joint venture where Mahindra Finance will now own the balance 51 percent.

Wipro and Nutanix, a leader in enterprise cloud computing, have launched Wipro’s Digital Database Services (DDS) powered by Nutanix Era and Nutanix HCI software. This offering will enable enterprises to efficiently manage databases, optimizing time and effort of IT teams. Wipro’s Digital Database Services (DDS), built on Nutanix solutions for Databases including Nutanix HCI software and Nutanix Era, allows enterprises and users to provision and manage databases just-in-time, without prior knowledge of hardware, database software and associated configurations.

GP Petroleums has resumed operations at its Vasai plant and will prioritise supply to essential services sectors such as sugar and power generation industries in these difficult and trying times arisen out of the spread of global pandemic COVID-19. The company plans to operate the 80,000 tonnes Vasai lubricant plant at required capacity as per the permissions received and will be managing daily functioning as per government guidelines with a 50 percent headcount, as most of the workers reside near the plant.

Shriram Transport Finance Company is planning to raise funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/ or private placement basis and commercial papers. The meeting of Banking and Finance Committee/Debt Issuance Committee / Bond Issuance Committee will be held during the month ending May 31, 2020 to consider and approve the terms and conditions including the issue price of debt securities.

Britannia Industries has launched WhatsApp-based 'Store Locator' service for its customers to help them find its range of products in nearby stores during the lockdown. Under the service, which has been launched across the country, a GPS-based chatbot publishes a list of stores near the consumer's current location that have been recently serviced by the company.

Shahlon Silk Industries has received approval for manufacturing Fabric meant for Body Coverall of Personal Protective Equipment (PPE) for Covid-19 from ‘The South India Textile Research Association (SITRA)’. The company has overall woven fabric manufacturing capacity of 3.5 million meter per month.

GP Petroleums is currently trading at Rs. 41.50, up by 3.60 points or 9.50% from its previous closing of Rs. 37.90 on the BSE.

The scrip opened at Rs. 41.20 and has touched a high and low of Rs. 42.45 and Rs. 40.15 respectively. So far 3553 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 69.50 on 2-May-2019 and a 52 week low of Rs. 24.60 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 42.45 and Rs. 37.25 respectively. The current market cap of the company is Rs. 193.23 crore.

The promoters holding in the company stood at 72.98%, while Institutions and Non-Institutions held 0.02% and 27.00% respectively.

GP Petroleums has resumed operations at its Vasai plant and will prioritise supply to essential services sectors such as sugar and power generation industries in these difficult and trying times arisen out of the spread of global pandemic COVID-19.

The company plans to operate the 80,000 tonnes Vasai lubricant plant at required capacity as per the permissions received and will be managing daily functioning as per government guidelines with a 50 percent headcount, as most of the workers reside near the plant. The company shall be following the necessary Government directive with respect to safety guidelines and percentage of deployment of staff, and after taking due care of all preventive measures like social distancing, safety & security, sanitization etc. as may be required for prevention of COVID-19.

GP Petroleums, a part of the UAE based GP Global, is into manufacturing of industrial and automotive lubricants, process and transformer oils, greases and other specialties under the brand name IPOL in the country and overseas market.

GP Petroleums (GPPL) is planning to invest Rs 100 crore in a new state-of-the-art plant in Saronda, Gujarat to process over 300,000 kilo litres of lubricants, thus enabling the company to be present across the entire gamut of Indian lubes market.

This will be GPPL’s second blending plant in the country and will manufacture specialty value added products, in addition to the automotive and industrial lubricants catering to the entire value chain. Apart from the home grown IPOL brand, the plant may blend REPSOL branded automotive products as well.

GP Petroleums, a part of the UAE based GP Global, is into manufacturing of industrial and automotive lubricants, process and transformer oils, greases and other specialties under the brand name IPOL in the country and overseas market.