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Castrol India surges after block deals

The stock rallied 9% to Rs 459 on the NSE in early morning trade after a more than 1% stake changed hands on the counter in multiple block deals on the NSE and BSE.

BP

The logo of BP is on display at a petrol station in Moscow, Russia. Photo: Reuters

SI Reporter Mumbai
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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First Published: Sep 20 2016 | 9:47 AM IST

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