GOCL Corporation, an oil marketing and distribution company, soared 7.8% at 406 levels in intraday trade, after an announcement of combining itself with the Quaker Chemical.
This is the third consecutive day of an upswing that the stock of GOCL Corporation has witnessed, posting 8.8% gains on weekly basis.
Houghton International which is a subsidiary of Hinduja Group’s Gulf Oil International has combined with Quaker Chemical to be a global leader in process fluids, chemical specialities and technical expertise to global primary metals and metal working industries.
Hinduja Conglomerate will hold highest stake in the combined entity. Currently GOCL Corporation, Hinduja Group’s entity holds 10% equity stake in Houghton International through UK subsidiary HGHL Holdings will hold 2% in the combined entity.