Castrol India jumped 7.71% to Rs 357.10 at 13:24 IST on BSE on a media report that the company's promoter Castrol Plc is exploring options to delist Castrol India from the Indian stock market.
Meanwhile, the BSE Sensex was up 291.93 points, or 1.14%, to 25,808.28.
On BSE, so far 10.15 lakh shares were traded in the counter, compared with an average volume of 1.11 lakh shares in the past one quarter.
The stock hit a high of Rs 359.50 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 333.80 so far during the day. The stock hit a 52-week low of Rs 282 on 16 May 2014.
The stock had outperformed the market over the past one month till 1 July 2014, rising 12.47% compared with 5.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.23% as against Sensex's 13.68% rise.
The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.
According to the report, the company's foreign promote, Castrol, is likely to seek delisting by year-end and for that it is in talks to appoint bankers to formulate delisting offer.
Castrol held 70.92% in Castrol India as on 31 March 2014.
Castrol India's net profit fell 19.39% to Rs 100.20 crore on 3.31% increase in total income to Rs 832.60 crore in Q1 March 2014 over Q1 March 2013.
Castrol India manufactures and markets a range of automotive and industrial lubricants.
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