Latest news with #CastrolIndia
Mint
2 days ago
- Business
- Mint
Stocks to buy for short term: From Swiggy to PNB— Jigar Patel of Anand Rathi suggests 3 stock picks; do you own any?
Stocks to buy for short term: Indian benchmark Nifty 50 ended lower for the second consecutive week last Friday, failing to sustain levels above the 25,000 mark. Stretched valuations, lack of fresh triggers, and a slowdown in foreign institutional investor (FII) buying weighed on market sentiment. However, while the benchmark index traded in a narrow range and closed 0.41 per cent lower for the week ended May 30, broader markets outperformed. The Nifty Midcap 100 and the Nifty Smallcap 100 indices rose over 1 per cent each. According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, the index is trading close to the 161.8 per cent Fibonacci extension, a zone that often acts as a resistance. Patel highlighted that the golden crossover (50-day EMA above 200-day EMA) remains significantly lower—around 23,800 to 23,500—indicating room for a deeper pullback if key support levels give way. For the Nifty 50, immediate resistance is seen in the 25,100–25,300 zone, while 24,450 is the key support to monitor. "A decisive breach below this level could trigger a deeper corrective move. In this environment, we maintain a cautious bias, favouring profit-booking on rallies rather than aggressive dip buying, as the retracement may extend further," said Patel. Jigar Patel recommends buying shares of Swiggy, PNB and Castrol India for the next two to three weeks. Swiggy's price action is currently unfolding within a falling parallel channel, suggesting a phase of consolidation. However, insights from Camarilla Pivot Analysis indicate a potential momentum shift. Over the past two months—April and May— Swiggy stock has formed an inside value setup, where each month's pivot range is contained within the previous month's. April's pivot range remained within March's, and May has followed suit by staying largely inside April's range. This type of compression typically precedes a high-probability breakout within 1–2 weeks. Adding weight to this setup, the RSI is showing a bullish divergence, signalling a likely reversal or upward move in the near term. "A long position is recommended above ₹ 330, with an upside target of ₹ 375," said Patel. Swiggy stock technical chart PNB is showing signs of a potential bullish reversal. A Bullish Harami candlestick pattern has formed on the weekly timeframe, indicating a possible trend shift. Notably, a strong base formation is visible near the S3 Camarilla yearly pivot, adding technical support to the setup. Additionally, the weekly RSI has decisively broken above the key 50 level, now hovering around 57, which further strengthens the bullish case. "We recommend initiating long positions in the ₹ 104–106 zone, with a stop loss below ₹ 98. The upside target is ₹ 119 in the coming weeks," said Patel. PNB stock technical chart Castrol India stock has recently broken out of a consolidation range between ₹ 205 and ₹ 213, signalling renewed bullish momentum. Notably, this consolidation occurred between the R1 Floor Pivot and the R3 Camarilla Monthly Pivot, lending further credibility to the breakout as a technically significant move. During the entire consolidation phase, the daily RSI consistently held above the 50 mark, reflecting underlying strength, and is now positioned comfortably above 60. "We recommend initiating long positions in the ₹ 214–216 range, with a daily closing stop loss at ₹ 202. The target is set at ₹ 240 in the short to medium term," said Patel. Castrol India stock technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
News18
6 days ago
- Automotive
- News18
Castrol India Jumps 6% On Report Of Fresh Buying Interest In BP's Lubricants Business
Last Updated: Shares of Castrol India surged 6% following report that BP Plc's Castrol lubricants unit is drawing acquisition interest from major players Castrol India Share Price: Shares of Castrol India surged 6% on May 29 following a Bloomberg report that BP Plc's Castrol lubricants unit is drawing acquisition interest from major players, including Reliance Industries Ltd., Apollo Global Management, and Lone Star Funds. According to the report, a potential deal for the business could be valued between $8 billion and $10 billion. As of 1:45 PM, Castrol India was trading at Rs 219 per share, up 6% for the day. The stock has a 52-week high of Rs 284.4 and a low of Rs 162.6, with a current market capitalisation of approximately Rs 21,600 crore. The report added that BP has shared initial information with other potential suitors, including Brookfield Asset Management and Stonepeak Partners. These firms would join Saudi Aramco, which is also reportedly exploring a bid for all or part of the lubricants business. The development follows BP's strategic review of its Castrol-branded global lubricants division, announced in February. The review is part of a broader corporate restructuring in response to pressure from activist investor Elliott Investment Management, which has become one of BP's largest shareholders. 'Castrol is a leading and trusted global lubricants brand, marketing premium products in more than 150 countries," BP said. 'It serves automotive, marine, industrial, and energy sectors, with growth ambitions across mobility services, industrial lubricants, and even data center fluids." The renewed buyer interest in BP's lubricants arm has sparked investor optimism around Castrol India, BP's listed Indian subsidiary. First Published: May 29, 2025, 14:28 IST
Mint
6 days ago
- Business
- Mint
Castrol India share price rises 5% as news reports suggest large corporates may be eyeing the BP's lubricant business
Stock Market Today: Castrol India share price gained more than 5% during the morning trades on Thursday as news reports suggested large corporates such as Reliance Industries, Aramco may be eyeing the BP's lubricant business As per Reuters News report dated 28 May 2025, the lubricant business of BP has attracted interest from Reliance Industries and others Reuters report said that 'BP's (BP PLC) Castrol lubricants business is attracting interest from companies such as India's Reliance Industries , Bloomberg News reported on Wednesday, citing people familiar with the matter'. The business has also attracted interest from buyout firms Apollo Global Management and Lone Star Funds, the Bloomberg report said, adding that a deal could fetch between $8 billion and $10 billion, suggested Reuters. The news flow around corporates showing interest in BP's Lubricants business has remained strong for a few months now. On 6 March'2025, PTI had attributed gains for Shares of lubes maker Castrol India, a unit of BP, to news flow suggesting that Saudi Arabia's state-owned oil giant Aramco is considering taking ownership of BP's lubricant brand. As the developments around BP's Lubricant business will be watched for, in the meanwhile analyst had maintained positive views on Sactrol India post Q4 results Motilal Oswal Financial Services Ltd post Q4 results had said that Castrol India has always enjoyed a strong brand legacy, and we are confident in its ability to maintain profitability through an improved product mix, stringent cost-control measures, and the launch of advanced products that command better realization. They had said that their Ebitda margin assumptions are already within the company's guided range of 22-25%. MOFSL valued the stock at 25 times Price to earnings and arrive at a target price of ₹ 250 reiterating their BUY rating. Castrol India share price that opened at ₹ 208.75 and at the time of opening was slightly higher compared to the previous days closing price of ₹ 206.45 . The Castrol India share price however gained further to intraday highs of ₹ 220.50, which marked gains of more than 5% during the Intraday trades for Castrol India share price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions
Business Standard
29-04-2025
- Automotive
- Business Standard
Castrol India Q1 PAT rises 8% YoY to Rs 233 cr in CY25
Castrol India reported consolidated net profit rose 7.96% to Rs 233.46 crore on a 7.3% jump in revenue from operations to Rs 1,422 crore in Q1 CY25 over Q1 CY24. Profit before tax in Q1 CY25 stood at Rs 312.72 crore, up by 7.08% from Rs 292.05 crore in Q1 CY24. Total expense jumped 7.96% year on year to Rs 1,141.52 crore during the quarter. Employee benefits expense was at Rs 67.50 crore (down 12.43% YoY), while other expenses stood at Rs 308.42 crore (up 16.92% YoY) during the period under review. Kedar Lele, managing director, Castrol India, said, We have made a steady start to the year, delivering growth in both revenue and profitability despite a challenging external environment. Our focus on product innovation, portfolio expansion, and deeper market penetration continues to fuel consistent momentum. The successful relaunch of Castrol Activ and continued traction in rural markets have been key growth drivers and contributed meaningfully to our volume growth this quarter We remain committed to strengthening mechanic advocacy across channels and leveraging the power of our brand communication to deepen consumer relevance. While macro headwinds such as rising input costs and forex volatility persist, we are confident in our ability to strengthen our leadership position, sustain growth, and deliver margins in this dynamic market, Lele further said. The company follows the calendar year (January to December) for its financial reporting. Castrol India is principally engaged in the business of manufacturing & marketing automotive and industrial lubricants and related services. Shares of Castrol India fell 2.79% to Rs 203.60 on the BSE.
Time of India
29-04-2025
- Automotive
- Time of India
Castrol India's first quarter profit climbs on stronger engine oil demand
Engine oil and lubricants producer Castrol India reported an 8 per cent rise in first-quarter profit on Monday on the back of growing demand for its products. Profit at Castrol India, majority-owned by British oil major BP, rose to 2.33 billion rupees ($27.4 million) from 2.16 billion rupees a year ago. Revenue increased 7.3 per cent to 14.22 billion rupees. Castrol is India's largest private retailer of engine oils. In recent years it focussed on offering more premium products for sport utility vehicles - India's most sold category of cars - while also expanding in rural areas. Analysts say the company will continue to benefit from rising demand for its oil products as the transition to electric vehicles in India happens at a slow pace. EVs form just 2.5 per cent of car sales in the country and 5 per cent of two-wheeler sales. India is aiming for 30 per cent of all new vehicle sales to be electric by 2030. India's overall auto sales by manufacturers to dealers grew about 2 per cent in the January-March quarter, with sales of large trucks, SUVs and scooters leading the way. Castrol India supplies its lubricants to India's biggest auto manufacturers across segments, including Maruti Suzuki and Hero MotoCorp . "The successful relaunch of Castrol Activ and continued traction in rural markets have been key growth drivers and contributed meaningfully to our volume growth this quarter," Managing Director, Kedar Lele , said in a press release. The company's shares closed 3.2 per cent higher on Monday ahead of the results.
