Castrol India is the star
By
Research Desk
about 8 years ago
Castrol is the star on the bourses since the opening bell. Clocking volumes of almost 12.5 lakh shares compared to two-week average of less than 2 lakh shares, the stock price spurted up to an intra day high at Rs.459 v/s yesterday’s close of Rs.422.
The much anticipated block deal is finally happening. The parent company, Castrol, which is a unit of BP is selling a 8.5% in Castrol India , worth around $261 million through a block deal. The stock is being sold at a price of Rs.408 to 422.50/share.
BP owned 59.5% stake in Castrol India as at 30th June 2016. And this is after it had sold in May’16 11.5% stake, bringing down its holding from 70.92%.