Castrol's premium valuations sustainable
Castrol India has been in the news recently with its UK-based promoter British Petroleum (BP) trimming its stake in the company by 8.5 per cent to 51 per cent. Fears that this might happen at a discount of five-10 per cent were unfounded as the discount was two-three per cent over Monday’s closing. This is the second time in 2016 that BP has trimmed stake in Castrol. In May, it brought down its stake from 71 per cent to 59.5 per cent. Both the times, there was high volatility in Castrol’s share price. The BP management’s.....