Wednesday 10 July 2013

Tide Water Oil shines on launching subsidiary in the Netherlands

Tide Water Oil Company (India) is currently trading at Rs. 7179.00, up by 36.80 points or 0.52% from its previous closing of Rs. 7142.20 on the BSE.

The scrip opened at Rs. 7200.00 and has touched a high and low of Rs. 7200.05 and Rs. 7150.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 8585.85 on 09-Jan-2013 and a 52 week low of Rs. 6951.00 on 22-Mar-2013.

Last one week high and low of the scrip stood at Rs. 7210.00 and Rs. 7070.20 respectively. The current market cap of the company is Rs. 625.09 crore.

The promoters holding in the company stood at 26.22% while Institutions and Non-Institutions held 14.04% and 59.75% respectively.

Tide Water Oil Co (India) has established subsidiary namely -- Veedol International BV -- in the Netherlands to re-launch the branded products in Europe. Tide Water, which earlier only had the rights to the iconic brand for India, acquired UK based Veedol International from BP plc in October 2011 along with the brand rights, its logos and sub brands in 126 countries.

Tide Water Oil Company is a part of the multi divisional Andrew Yule group that has diverse interests in Engineering, Electrical, Tea Cultivation, Power Generation, Digital Communication Systems and Lubricants.

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