Tata Motors and Gulf Oil Lubricants India Limited (GOLIL), today officially signed an agreement to launch a range of co-branded lubricants for its passenger vehicle segment in India. Signed in the presence of Mr. Mayank Pareek, President - PVBU, Tata Motors, Mr. S.N. Barman - Vice President, Sales, Marketing & Customer Support, PVBU, Tata Motors, Mr. Subhajit Roy - Head - Customer Care, PVBU, Mr. Ravi Chawla, MD, Gulf Oil Lubricants India Limited and Mr. Shiva Raj Mehra, Head, Automotive OEM business, GOLIL, the Companies will be selling co-branded Tata Motors Genuine Oil in the high street bazaar market under this partnership.
According to Mr. Mayank Pareek - President, Passenger Vehicle Business Unit, Tata Motors - "We at Tata Motors have always worked towards creating a delightful experience for all our customers through various aftersales products & services. Gulf Oil is an iconic brand with strong heritage and is currently amongst the fastest growing lubricant brands in India. With the strength of GOLIL and our commitment to provide our customers with the best lubricant technology expertise and support in the competitive market place, we are happy to announce the beginning of this new relationship. Furthermore, with the association, we guarantee that our customers will receive the finest quality of product which will in turn help them extract the best performance out of their engines."
"We are extremely honoured to partner with a respected brand like Tata motors for their Passenger Vehicle Business Unit in India. This gives us an excellent opportunity to leverage our brand and other strengths for the passenger vehicles segment. This agreement will be a win-win for both partners as it gives Tata Motors customers a chance to avail a product that is specifically developed for the passenger vehicles of Tata Motors. It will furthermore leverage Gulf Oil's extensive distribution network to make it easily available to customers", said Ravi Chawla, MD, Gulf Oil.
The products launched under this range would cover the entire gamut of requirements by the Company, which would include engine oil, gear oil, coolant and brake oil. Additionally, the product range would offer best technology for Tata Motors' consumers and will be continuously upgraded from time to time depending on the requirements.
Shares of TATA MOTORS LTD. was last trading in BSE at Rs.189.65 as compared to the previous close of Rs. 190. The total number of shares traded during the day was 1542612 in over 9177 trades.
The stock hit an intraday high of Rs. 191.75 and intraday low of 186.7. The net turnover during the day was Rs. 291416404.