Rising demand for lubricants and oil from original equipment manufacturers (OEMs), given an upswing in the commercial vehicle cycle and an increase in freight movement on national highways bodes well for the Hinduja Group company – Gulf Oil Lubricants (GOLIL). Besides, GOLIL is making strategic inroads into the battery business and during FY24, the company is planning to localise production to boost battery availability in the B2C market. This expansion is expected to fortify GOLIL’s position in the battery industry and drive growth in the coming years, analysts at Ventura Securities note, who recently initiated the coverage on the stock.
Source : Zee Biz
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