Tuesday, April 17, 2012

Gulf Oil Corporation's Bengaluru Project Notified as Special Economic Zone

Gulf Oil Corporation Ltd had announced its plans for developing its 39.37 acres property at Yelahanka, Bengaluru into an IT/ITES SEZ of 30 acres and the balance 9.37 acres for hospitality, retail malls and hotels/service apartments.

The Ministry of Commerce and Industry, Government of India has vide its notification dated March 14, 2012 notified the Company's project at Bengaluru, admeasuring 12.14 hectares (30 acres approx) situated at Yelahanka as Special Economic Zone for set up of a sector specific information technology and information technology enabling services including Electronic Hardware and Business Process Outsourcing, under Section 4(1) of the Special Economic Zones Act, 2005.

The Gulf Oil Corporation Ltd stock closed the day at Rs.79.30, up by Rs.3.10 or 4.07%. The stock hit an intraday high of Rs.81.30 and low of Rs.77.20.

The total traded quantity was 1.07 lakhs compared to 2 week average of 0.20 lakhs.

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