Castrol India Clarifies Share Price Surge Amid BP's Strategic Review1 day ago
Castrol India has issued a clarification regarding the recent surge in its share price. The company stated that it is not involved in any negotiations or discussions mentioned in a recent news article and has no undisclosed information that could explain the price movement. Additionally, Castrol India confirmed that it is unaware of any legal or regulatory proceedings related to the issue. This clarification comes in the context of BP's strategic review, which was mentioned but not elaborated upon in the news.
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About Castrol
Castrol India Limited, incorporated in 1979, is a lubricant company engaged in manufacturing and marketing automotive and industrial lubricants and related services. It is part of the BP Group, with Castrol Limited UK holding a 51% stake. The company operates three manufacturing plants in India and offers a range of products across automotive, industrial, marine, and energy segments. Castrol India is the market leader in retail automotive lubricants, with brands including Castrol EDGE, MAGNATEC, GTX, Power1, Activ, CRB, RX, and VECTON. The company also provides industrial lubricants and services such as Castrol Auto Service. In recent years, Castrol India has expanded into electric vehicle fluids and entered strategic partnerships with automotive manufacturers. The company has a distribution network of 350 distributors and 100,000 retail outlets across India.