Lubricant stocks experienced significant gains on Friday, with Panama Petrochem, Gandhar Oil Refinery (India), and Savita Oil Technologies rallying up to 18% amid heavy trading volumes. According to reports from Business Standard, these gains occurred while the BSE Sensex was down 1% at 11:53 AM, highlighting the sector-specific strength in lubricant companies. The rally was driven by strong demand outlook, export strength, and earnings growth optimism that fueled buying interest across the sector.
Panama Petrochem zoomed 18% to ₹484.40, reaching a new high and benefiting from a two-fold jump in trading volume. As reported by Business Standard, the stock has surged 30% in the past two trading days and skyrocketed 59% in the past month. A combined 8.04 million equity shares changed hands on the NSE and BSE during the trading session. The company manufactures and exports over 80 variants of specialty petrochemicals, with key products including liquid paraffin oils, petroleum jelly, and transformer oil.
Gandhar Oil Refinery (India) hit a 52-week high of ₹184.55 on the back of a three-fold jump in average trading volume. According to Business Standard, the stock has soared 18% in the past two trading days. A combined 2.83 million equity shares changed hands on the NSE and BSE during the session. The company clarified to NSE that there is no undisclosed material information that would impact price behavior, stating the volume increase is purely market-driven.
Savita Oil Technologies was up 3% at ₹605.65 during intra-day trading, with the stock having surged 45% in the past month and hitting a 52-week high of ₹623.10 on June 16, 2026. As reported by Business Standard, the company operates with a total capacity of 5.5 lakh tonnes across 4 units and caters to diversified segments including power & distribution transformers, cosmetics, healthcare, and automotive & industrial lubricants. The company's total sales volume grew 17% YoY in FY26.
According to Business Standard, the rally was driven by strong demand outlook, export strength, and earnings growth optimism across the lubricant sector. ICICI Securities expects Savita Oil Technologies' revenue to grow 34% CAGR over FY26-28E, with EBITDA and PAT expected to grow at 36% and 37% CAGR respectively. The brokerage recommended a 'Buy' rating with a target price of ₹690 based on 14x P/E on FY28E. The diversified product portfolio and geographic spread continue to provide resilience to business models by reducing dependence on any single market or customer segment.
