Castrol India dips after block deals

Castrol India has dipped 5.5% to Rs 364 on the BSE after a more than 10% of the total equity of the company changed hands on the counter through a multiple block deals.

About 58.15 million equity shares representing 11.8% of total equity of Castrol India changed hands on the BSE in early morning trade.

Sellers and buyers of the shares were not immediately known.

As of March 31, 2016, promoter Castrol held 70.92% stake in oil marketing & distribution company.

At 11:52 am, the stock was down 2.6% at Rs 375 as compared to 0.29% decline in the S&P BSE Sensex. A combined 71.28 million shares changed hands so far against an average sub 500,000 shares traded daily in the past two weeks.