Gp Petroleums' Stock Rises On Jv Agreement With West Coast Oils

SUMMARY

GP Petroleums' shares knowledgeable a emergence successful early trading connected 7 May arsenic nan institution announced a associated task pinch West Coast Oils LLP. This strategical business intends to found a institution focused connected manufacturing and trading specialty bitumen products and different allied commodities. The associated task will nutrient each types and grades of bitumen emulsions, polymer modified bitumen (PMB), crumb rubber modified bitumen (CRMB), and different value-added bitumen products. Both companies will lend arsenic to nan associated task and person adjacent practice connected its board.

The stock's capacity has been noteworthy, though it presently trades importantly beneath its 52-week high.GP Petroleums' stock value roseate a percent to Rs  39.46 connected May 7 pursuing a associated task announcement pinch West Coast Oils LLP. On 17 September 2024, GP Petroleums' stock value reached a 52-week precocious of Rs 93.45, whereas it deed a debased of Rs 36.00 connected 7 April 2025. As of now, nan banal is trading 58.67% beneath its highest level successful nan past year, yet it is 7.28% supra its caller low. The company's marketplace capitalisation stands astatine Rs 196.90 crore, reflecting its important beingness successful nan market.

The associated task pinch West Coast Oils LLP is expected to heighten GP Petroleums' marketplace positioning by expanding its merchandise scope and entering into caller business segments. This collaboration whitethorn besides supply some companies pinch nan opportunity to leverage each other's strengths and research caller markets. The adjacent finance and committee practice successful nan associated task signify a balanced partnership, aimed astatine maximising maturation imaginable successful nan bitumen industry. As nan bitumen marketplace evolves, specified strategical alliances could play a pivotal domiciled successful shaping nan competitory scenery and driving invention successful merchandise offerings.

"The Company has signed a Joint Venture Agreement pinch West Coast Oils LLP connected May 06, 2025 to found a associated task institution for nan intent of engaging successful nan business of manufacturing and trading of nan specialty bitumen products and different allied commodities - each types and grades of Bitumen Emulsions, PMB (Polymer Modified Bitumen), CRMB (Crumb Rubber Modified Bitumen) and different worth added Bitumen Products. The Joint Venture will leverage nan mixed resources and expertise of some nan parties, creating a beardown instauration for occurrence and maturation successful nan bitumen market," said GP Petroleums. 

Published on: May 7, 2025 11:18 AM IST