Tide Water Oil (India) announced that the company has entered into a 50:50 joint-venture with JX Nippon Oil & Energy Corporation.

The stock had underperformed the market over the past one month till Jul. 21, 2014, falling 1.17% compared with the Sensex's 2.43% rise. It underperformed the market in past one quarter, gaining 1.32% as against 12.96% rise in the Sensex.

Shares of the company declined Rs 163.9, or 1.36%, to settle at Rs 11,896.80. The total volume of shares traded was 1,346 at the BSE (Tuesday).