GOCL Corporation shares experienced a significant surge on Thursday, 3 September, with the stock opening at ₹415 against its previous close of ₹391.85. According to reports from Stock Market News, the stock touched an intraday high of ₹448.75, representing a 14.5% jump from its opening levels. The strong performance marked the second consecutive session of gains for the Gulf Oil company's shares.
As reported by Stock Market News, around 9:40 AM, GOCL Corporation shares were trading at approximately ₹438 on the BSE, maintaining a nearly 12% gain from the opening levels. The sustained upward momentum throughout the morning session indicated strong investor interest in the Gulf Oil company's stock, with the price movement suggesting continued buying pressure in the market.
GOCL Corporation has announced its largest-ever dividend of ₹30 per share (1,500%) for FY26, with the record date set for Tuesday, 22 September 2026. According to the company's exchange filing, the register of members and share transfer books will remain closed from Wednesday, 23 September to Tuesday, 29 September 2026 for dividend entitlement verification. The final dividend payment will be made within 30 days of approval at the 65th Annual General Meeting scheduled for Tuesday, 29 September 2026. This represents the company's biggest dividend in its history, with previous annual payments ranging from ₹5 in 2024 to ₹10 in 2023.
As reported by Stock Market News, the 15% surge in GOCL Corporation shares during morning trading on the BSE represents a notable movement in the Gulf Oil sector. The company's Q1 FY27 consolidated net profit from continuing operations fell to ₹43.9 crore, representing a contraction of approximately 18% YoY due to the divestment of its legacy bulk explosives business. GOCL has undergone a significant transformation in its business model, with real estate activities contributing 50% and Electronics Manufacturing Services (EMS) accounting for 24%, while discontinued operations constitute the remaining 26%. The company employed 61 permanent employees with 79% being male, and reported an employee turnover rate of 27% for permanent staff.
The proposed merger with HNPCL will immediately scale GOCL's asset base by integrating HNPCL's ₹2,436.94 crore annual revenue-generating thermal plant into its books. HNPCL operates a 1,040 MW coal-fired thermal plant near Visakhapatnam, representing a significant addition to GOCL's power utility portfolio. Having successfully divested its explosives segment, GOCL is re-aligning its balance sheet to focus on power utility and high-value real estate monetization, with the merger providing substantial capital reserves to complete its strategic pivot.
