Castrol India declined 2.12% to Rs 377.10 at 10:35 IST on BSE on reports that its UK based foreign promoter Castrol Limited UK is selling up to 10.5% stake in the company through a block deal route on the exchanges today, 19 May 2016.
Meanwhile, the S&P BSE Sensex was down 111.91 points or 0.44% at 25,592.70.
Massive volumes were witnessed on the counter. On BSE, so far 6.41 crore shares were traded in the counter as against average daily volume of 1.10 lakh shares in the past one quarter. The stock hit a high of Rs 381 and a low of Rs 364.40 so far during the day. The stock had hit a 52-week low of Rs 360.10 on 1 March 2016. The stock had hit a 52-week high of Rs 513.15 on 30 July 2015. The stock had outperformed the market over the past one month till 18 May 2016, gaining 1.66% compared with Sensex's 0.43% fall. The scrip had, however, underperformed the market in past one quarter, declining 2.59% as against Sensex's 8.69% rise.
The large-cap company has equity capital of Rs 247.28 crore. Face value per share is Rs 5.
Reports suggested that the share sale is happening at an indicative range of Rs 355-385.25 per share. Shares of Castrol India had declined 2.85% to settle at Rs 385.25 on the BSE yesterday, 18 May 2016.
Castrol Limited UK held 70.92% stake in Castrol India as per the shareholding pattern as on 31 March 2016.
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Castrol India's net profit rose 17.5% to Rs 172.40 crore on 7.1% growth in net sales to Rs 852.10 crore in Q1 March 2016 over Q1 March 2015.
Castrol India manufactures and markets a range of automotive and industrial lubricants.
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