Castrol India has soared 5% to Rs 635 extending its past 14% rally in past six trading days on the Bombay Stock Exchange. The stock of oil marketing & distribution firm is currently trading at its record high on back of huge volumes on the counter.
As many as a combined 242,078 shares have already changed hands in morning trades, against an average 200,000 shares that were traded daily in past two weeks on both the exchanges.
The stock outperformed the market by gaining 14% since the announcement of bonus issue on July 16, compared to less than 2% rise in the benchmark Sensex.
The board has approved the issue of bonus shares in the ratio of 1:1 held on the record date to be fixed in consultation with the stock exchange. The board has also announced an interim dividend of Rs 7/- per equity share for the year ending December 31, 2012.