Castrol India’s Shares jumped by 18 percent to Rs 252 on the BSE in Wednesday’s intraday trade, hitting a multi-year high amid heavy volumes. The stock of the lubricant company inched towards its record high of Rs 272 touched on December 8, 2014. At 02:54 PM, Castrol India was trading 15 percent higher at Rs 245.65 as compared to 0.54 percent rise in the BSE Sensex. As many as 103.6 million shares, representing 10.5 percent of the company’s total equity, have already changed hands on the NSE and BSE.
In the past year, the stock price of Castrol India has more-than-doubled, zooming 107 per cent, as compared to 23 percent rally in the benchmark index. Castrol India is one of India’s leading lubricant companies with brands such as Castrol CRB, Castrol GTX, Castrol Activ, Castrol POWER1, Castrol EDGE, Castrol MAGNATEC and Castrol VECTON.
The company also operates in select segments like High-Performance Lubricants and Metal-Working Fluids, which are used in a wide variety of industries such as automotive manufacturing, mining, machinery, and wind energy.
In automotive lubricants, the anticipated off-take growth observed throughout 2023 is poised to sustain momentum in 2024. The company said it is committed to propelling this growth by expanding participation across diverse price segments, ensuring broader availability across geographic strata, reinforcing its workshop presence, and making substantial investments to nurture premium brands.
