Castrol India surges after block deals

Castrol India has rallied 9% to Rs 459 on the National Stock Exchange (NSE) in early morning trade after a more than 1% stake changed hands in the counter post multiple block deals on the NSE and Bombay Stock Exchange.

Till 09:35 am, a combined 5.44 million shares representing 1.1% of total equity of Castrol India changed hands on the BSE and NSE, the exchange data shows. LINK

The name of the buyers and sellers were not immediately ascertained.

Castrol Limited., the controlling shareholder of Castrol India, is a unit of U.K.-based BP Plc. Castrol Limited held 59.42% stake and BP Mauritius Limited held 0.11% stake in Castrol India as of June 30, 2016, the shareholding pattern data shows.

Earlier in May 19, 2016, UK-based oil firm BP announced that its wholly owned subsidiary, Castrol, had sold 56.87 million shares or 11.5% stake it held in Castrol India in open market, to international investors. LINK

At 09:45 am, the Castrol India was up 6.3% at Rs 449 on the BSE, as compared to 0.31% decline in the S&P BSE Sensex.

 


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