Castrol India fell 4.35% to Rs 368.50 at 14:37 IST on BSE after the company said that its UK-based promoter sold 5.68 crore shares, or 11.5% equity, of the Indian firm via stock exchanges today, 19 May 2016.
The announcement was made during trading hours today, 19 May 2016.Meanwhile, the BSE Sensex was down 226.65 points, or 0.88%, to 25,477.96.
The counter clocked volume of 6.64 crore shares on BSE, a 388.88-times surge over two-week average daily volume of 1.71 lakh shares. The stock hit a high of Rs 381 and a low of Rs 364.40 so far during the day. The stock hit a 52-week high of Rs 513.15 on 30 July 2015. The stock hit a 52-week low of Rs 360.10 on 1 March 2016. The stock had outperformed the market over the past one month till 18 May 2016, rising 1.66% compared with 0.43% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.59% as against Sensex's 8.69% rise.
The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.
UK-based Castrol held 70.92% stake in Castrol India as per the shareholding pattern as on 31 March 2016.
After the sale of shares, UK-based Castrol's stake in Castrol India has reduced to 59.42%.
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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