Gulf Oil Lubricants Stock May Surge 40%; ICICI Securities Reiterates 'Buy'

• ICICI Securities reiterated a 'Buy' rating for Gulf Oil Lubricants India, setting a revised target price of Rs 1610.
• The target price suggests a potential upside of approximately 39% from the current share price.
• Gulf Oil Lubricants has shown core lubricant growth of over 7% year-on-year for 11 quarters, double the industry rate.
• Growth is driven by brand strength, OEM relationships, awareness campaigns, product quality, and EV diversification.
• Near-term core margins may face challenges due to uneven LOBS price decline versus crude and rupee depreciation.

Why It Matters: Gulf Oil Lubricants stock has 40% upside potential, per ICICI Securities.