Shares of Gandhar Oil Refinery (India) soared 17% to hit an intraday high of ₹177.60 on the BSE on Monday, driven by heavy trade volumes amid escalating geopolitical tensions involving the US and Venezuela. According to ETMarkets.com, the stock was trading at ₹173.50 around 1 pm, up 14.26% from its previous close of ₹151.85. The surge came as global markets reacted to U.S. military strikes on Venezuela, with European defense stocks also rising 2.7% and hitting their highest levels in two months. The stock traded firmly within its price band of ₹121.50 to ₹182.20 for the day and remains comfortably above its 52-week low of ₹120.60, though still below its 52-week high of ₹222.80.
Adding to the positive momentum, Gandhar Coal & Mines Private Limited, a promoter group entity, has increased its shareholding by acquiring 53,816 additional equity shares through open market purchase on December 30, 2025. The transaction raised the promoter group's total holding to 1.41% from the previous 1.36%, representing a 0.05% increase in shareholding percentage. According to the regulatory filing under SEBI Regulation 29(2), the acquisition demonstrates continued confidence from the promoter group in the company's prospects.
The surge in price was accompanied by a sharp spike in trading volumes, with over 21 lakh shares changing hands compared to the two-week average of just 20,000 shares. As reported by ETMarkets.com, the turnover stood at ₹36.5 crore, highlighting heightened investor interest in the counter. The company's market capitalisation stood at ₹1,698 crore. This exceptional activity mirrored broader market trends, with European stocks also trading firmer and extending early-year gains as investors bought defense and oil-related stocks following the Venezuela developments.
The rally gained momentum as global markets reacted to the dramatic capture of Venezuelan President Nicolas Maduro by U.S. forces over the weekend, with President Donald Trump announcing that Venezuela would be under temporary American control. According to Reuters, European stocks traded firmer on Monday, with the pan-European STOXX 600 rising 0.3% by 0810 GMT. Defense stocks led the gains, rising 2.7% to hit their highest levels in two months, while technology and basic resources sectors also gained 2.1% and 2% respectively. Market participants speculated that rising tensions between the US and Venezuela, a major oil-producing nation, pushed investors to turn bullish on domestic oil-related counters, with Gandhar Oil seen as a key beneficiary due to its niche positioning in the white oil segment.
Gandhar Oil Refinery, incorporated in 1992, is a key player in the white oils segment, serving both consumer and healthcare end-user industries. According to the report, it is one of the top five global manufacturers of white oils and commands a 26.5% market share in India and 9.6% globally. The company's equity capital structure comprises ₹19.58 crore total equity capital with 9.79 crore shares at ₹2.00 face value per share. The developments come at a time when global crude markets are closely watching potential supply disruptions, making oil-linked plays on the domestic bourses increasingly attractive.
