Castrol India drops in volatile trade after permanently closing Wadala, Mumbai facility

Castrol India declined 0.05% to Rs 436.20 at 10:10 IST on BSE after the company said it has decided to permanently close its Wadala, Mumbai facility, subject to statutory compliances as may be applicable.

The company announced after market hours yesterday, 21 September 2015.

Meanwhile, the S&P BSE Sensex was up 90.89 points or 0.33% at 26,278.59.

On BSE, so far 2,494 shares were traded in the counter as against average daily volume of 55,039 shares in the past one quarter.

The stock was volatile. At the day's high of Rs 441.85, the stock rose 1.24%. At the day's low of Rs 435.70, the stock declined 0.16%. The stock had hit a record high of Rs 544 on 8 December 2014. The stock had hit a 52-week low of Rs 406.85 on 17 October 2014.

The stock had underperformed the market over the past one month till 21 September 2015, declining 8.11% compared with Sensex's 4.29% fall. The scrip had however outperformed the market in past one quarter, dropping 1.95% as against Sensex's 4.11% fall.

The large-cap company has equity capital of Rs 247.28 crore. Face value per share is Rs 5.

Castrol India said it does not carry out any production/manufacturing activity at Wadala facility. The company's 'Technology Centre' is currently housed at Wadala, which provides R&D support to the business and the decision about carrying out the R&D activities at different location will be taken in due course after thorough evaluation, Castrol India said. This closure does not have any impact on company's financial performance or its operations, Castrol India added.

Castrol India's net profit rose 48.3% to Rs 184.50 crore on 1.6% rise in total income to Rs 938.80 crore in Q2 June 2015 over Q2 June 2014.

Castrol India manufactures and markets a range of automotive and industrial lubricants.

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