GP Petroleums shares saw a modest uptick in early trade on May 7 following the announcement of a joint venture (JV) agreement with West Coast Oils LLP. The move aims to expand into specialty bitumen products and other allied commodities.
Market Performance
At 09:41 AM, GP Petroleums' shares were trading at ₹38.62, marking a gain of ₹0.15 or 0.39% on the BSE.
- 52-week high: ₹93.45 (recorded on September 17, 2024)
- 52-week low: ₹36.00 (recorded on April 7, 2025)
- Current level:
- 58.67% below its 52-week high
- 7.28% above its 52-week low
The company’s market capitalisation currently stands at ₹196.90 crore.
Strategic Joint Venture Announced
GP Petroleums and West Coast Oils LLP have partnered through a joint venture to set up a new company. This JV will engage in the following:
- Manufacturing and trading of specialty bitumen products
- Production of Bitumen Emulsions, PMB (Polymer Modified Bitumen), and CRMB (Crumb Rubber Modified Bitumen)
- Development of other value-added bitumen commodities
Both parties will invest equally in the new venture and maintain equal representation on the board.
Company Overview
GP Petroleums is a player in the petroleum and lubricant sector. It is now looking to diversify into value-added infrastructure materials. This JV signals the company's intent to capture more of the construction and road development materials market.
The collaboration aligns with the company’s long-term strategy of expanding into niche industrial segments and driving revenue through new product lines.
Summary
GP Petroleums' shares rise following a strategic JV announcement with West Coast Oils LLP. With equal partnership in manufacturing specialty bitumen products, the move reflects the company's ambition to diversify and tap into high-growth sectors. Investors will be closely watching how this JV impacts future performance.
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