Gulf Oil Corporation, a Hinduja Group Company, gained on Wednesday after the company's promoter, Gulf Oil International (Mauritius) (GOIMI) has recently acquired additional shares to the extent of 4.99%, increasing their shareholding in the company to 54.96%.

With this, the company becomes subsidiary of GOIMI.

Shares of the company are trading at Rs 119, up Rs 2.7, or 2.32% at the Bombay Stock Exchange (BSE) on Wednesday at 11:19 a.m.

The scrip has touched an intra-day high of Rs 120.95 and low of Rs 118. The total volume of shares traded at the BSE is 86,720.

In the earlier session, the shares climbed 2.78%, or Rs 3.15, at Rs 116.30. Currently, the stock is trading all time 52-week high, which is above 103.59% over the 52-week low of Rs 58.45.