Castrol Share Price Surges Nearly 7% On Reports Of Buyout Interest By Reliance Industries, Apollo, Lone Star
Castrol Share Price Surges Nearly 7% On Reports Of Buyout Interest By Reliance Industries, Apollo, Lone Star
Castrol India Ltd.'s share price rose nearly 7% after Bloomberg reported that big corporates like Reliance Industries and buyout firms like Apollo and Lone Star expressed interest in acquiring ownership of the company.
Earlier in March, BP's lubricants unit had fetched interest from Saudi Arabia's state-owned oil corporation Aramco, according to PTI.
Bloomberg reported that banks are willing to back companies in order to bid for Castrol. Additionally, a deal for the Castrol unit may bring in $8 billion to $10 billion for BP.
Castrol Share Price Today
The scrip rose as much as 6.71% to Rs 220.39 apiece, the highest level since March 25, 2025. It pared gains to trade 5.65% higher at Rs 218.20 apiece, as of 1:30 p.m. This compares to a 0.01% advance in the NSE Nifty 50 Index.
The share price has risen 10.49% on a year-to-date basis and is up 16.50% in the last 12 months. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 61.54.
Out of five analysts tracking the company, two maintain a 'buy' rating and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 6% from the last regular trade.
