The company made the announcement at the time of announcing Q1 March 2013 results during trading hours today, 26 April 2013.
Meanwhile, the S&P BSE Sensex was down 50.16 points or 0.26% at 19,356.69.
On BSE, 1.24 lakh shares were traded in the counter as against average daily volume of 21,000 shares in the past two weeks.
The stock hit a high of Rs 329.40 and a low of Rs 311.75 so far during the day.
Castrol India's board of directors at a meeting held today, 26 April 2013, has proposed a scheme of reduction of the company's share capital u/s 100 of the Companies Act, 1956 i.e. to reduce the face value of the company's equity shares from Rs 10 per share to Rs 5 per share and return the same to the shareholders.
Castrol India's net profit rose 1.13% to Rs 124.30 crore on 1.14% decline in total income to Rs 805.90 crore in Q1 March 2013 over Q1 March 2012.
Castrol India manufactures and markets a range of automotive and industrial lubricants. It markets its automotive lubricants under two brands -- Castrol and BP. The company has leadership positions in most of the segments in which it operates including passenger car engine oils, premium 2-stroke and 4-stroke oils and multigrade diesel engine oils.
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