ICICI Securities Recommends Buy on Gulf Oil Lubricants India Target Rs 1610

• ICICI Securities recommends "BUY" for Gulf Oil Lubricants India with a target price of Rs 1610.
• Gulf Oil has consistently achieved over 7% YoY core lubricant growth for 11 quarters, double the industry rate.
• Growth is driven by strong brand, OEM ties, awareness campaigns, product quality, and EV diversification.
• Near-term margin headwinds are anticipated due to lubricant base stock prices, crude oil, and INR depreciation.
• ICICI Securities revised its EPS estimate due to margin softness but reiterated its "BUY" rating.

Why It Matters: It recommends buying Gulf Oil Lubricants India stock for potential profit.