TIDE WATER IS ALL SET TO HIT 6500-10000

TIDE WATER IS ALL SET TO HIT 6500-10000 LEVELS IF VALUED AT PAR WITH CASTROL OR GULF OIL

Refer the below report
Shares<http://www.ndtvprofit.com/2008/06/18153843/Tide-Water-Oil-hits-the-ro...>of
Andrew Yule & Company, which holds 26.22% stake in Tide Water Oil,
surged 15.67% to Rs 50.20 on 71,895 shares on BSE

Meanwhile, the BSE Sensex was up 1.49 points or 0.01% to 15,698.29

On BSE, the Tide Water Oil counter saw thin volumes of just 12 shares, with
pending buy orders of 1352 shares at maximum limit. The
stock<http://www.ndtvprofit.com/2008/06/18153843/Tide-Water-Oil-hits-the-ro...>had an average daily volume of 253 shares in the past one quarter.

The stock hit a high and low of Rs 4040.40 so far during the day. The stock
had hit a 52 week high of Rs 5276 on 5 November 2007 and a 52 week low of Rs 1740 on 18 June 2007.

The small-cap scrip outperformed the market over the past one month till 17
June 2008, declining 1.71% compared to the Sensex's decline of 9.97%. It
also outperformed the market in the past one quarter, surging 31.51%
compared to Sensex's return of 4.68%.

The company has a tiny equity<http://www.ndtvprofit.com/2008/06/18153843/Tide-Water-Oil-hits-the-ro...>base of Rs 0.87 crore. Face value per share is Rs 10.

At the current market price of Rs 4040.40, the PE multiple works out to
9.77, based on the Q3 December 2007 annualised EPS of Rs 413.33.

Andrew Yule is planning to divest its stake in Tide Water Oil as a part of a restructuring process. Tide Water Oil was originally floated as a joint
venture with Caltex (now Chevron) 60 years back. Chevron holds 22.12% stake
in Tide Water Oil through a subsidiary called Four Star Oil & Gas Company.

As per reports, the Union ministry of heavy industries has already given
green signal to the divestment of Andrew Yule's stake in Tide Water Oil in
May 2008. The ministry has also asked Andrew Yule to appoint a consultant
for the same.

Tide Water Oil markets lubricants under Veedol brand and is a key player in
the diesel lube market in the country.

The company reported 342.90% spurt in net profit to Rs 8.99 crore on 23.90%
rise in total income<http://www.ndtvprofit.com/2008/06/18153843/Tide-Water-Oil-hits-the-ro...>to Rs 123.88 crore in Q3 December 2007 over Q3 December 2006.