Trending Stocks – Tide Water Oil Co. (India) Ltd.

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Tide Water Oil Co. (India) Ltd. – Highlights

• Tide Water Oil Co. (India) Ltd. hit a 20% upper circuit limit of Rs.7196.90, on the BSE in today’s session.
• The stock is up by 109.24% in last one year as compared to a 61.73% surge in S&P BSE Sensex in the same period.
• The stock hit a fresh 52-week high of Rs.7196.90 today.
• This move in the stock was after the company said it will consider a stock split and bonus issue in the upcoming board meeting to be held on June 10, 2021.
•  “The board of directors of the company is scheduled to meet on June 10, 2021 to consider the audited financial results of the company for the quarter and year ended 31st March, 2021, as well as the recommendation of final dividend for the fiscal year 2020-21 and book closure for the purpose,” Tide Water Oil stated in an exchange filing.
• The board of directors will also consider a proposal of subdivision of shares and declaration of bonus issue to/for shareholders at such rate/ratio as will be decided at the meeting, according to Tide Water Oil (India).
• Previously, in March 2016, the company issued bonus shares at a 1:1 ratio, i.e. one bonus share for every share held in the company. The oil marketing and distribution firm also reduced the face value of equity shares from Rs.10 to Rs.5.
• In general, a company intends to go for a stock split in order to make its shares more affordable to small retail investors and increase liquidity.
• Since 1928, Tide Water oil has been a major player in the Indian lubricant industry. It manufactures and sells lubricants under the Veedol brand. Tide Water Oil has the reach and penetration to provide its products to every corner of the country, thanks to its pan-India distribution network.
• The extensive distribution network includes 50 distributors and over 650 direct dealers who serve over 50,000 retail outlets. The network is fed by 5 plants and over 55 depots strategically located throughout the country. Engine oils for trucks, tractors, commercial vehicles, passenger cars, and two/three wheelers are among its automotive products. It also manufactures automotive gear oils, transmission oils, coolants, and greases.
• It produces industrial oils, greases, and specialty products such as metal working fluids, quenching oils, and heat transfer oils for industrial use. Tide Water has collaborations with a number of well-known OEMs in the automotive and industrial equipment sectors to manufacture genuine oils.

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