Castrol India shares traded in the green on Wednesday (July 26) as the stock was up 5.36% at Rs 144.50 per share at 2:13 pm IST. In this year so far, the share price of Castrol India Limited has gained 15.50%, while the last one year returns of the stock are up 27.30%.
In an exchange filing, the company said that the post-earnings call with analysts/investors for discussing the financial results of the Company for the quarter and half year that ended on 30 June 2023, has been scheduled to be held on Tuesday, 1 August 2023 from 12:15 p.m. IST to 1:00 pm.
The post-earnings call with analysts will take place after the adoption of the said financial results by the Board of Directors at its meeting scheduled to be held on July 31, 2023 (Monday). The company will also consider and approve interim dividend for FY 2023 in this meeting that is scheduled for July 31.
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In June this year, the company inked an agreement with Mahindra Insurance Brokers Limited (MIBL), a prominent insurance brokerage firm. The company said that Castrol Auto Service (CAS) workshops will now have the option to empanel themselves as POSPs (Point of Sale Persons) for the distribution of eligible insurance policies from India’s leading motor insurance providers through MIBL. The CAS workshops can offer automotive insurance products via a digital platform in addition to repair and maintenance services for their customers’ vehicles.
Commenting on this development Sandeep Sangwan, Managing Director, Castrol India Limited, said, “As the automobile industry sees significant growth, with India being the fourth largest automobile market, vehicle insurance has seen unprecedented growth. This potential gives us confidence in this alliance with Mahindra Insurance Brokers Limited to further empower our eligible CAS workshops to reach more customers. It also represents a significant milestone in our service and maintenance strategy, as it will undoubtedly enhance the capabilities of our network workshops and ensure that they are capable of providing exceptional or enhance value to their customers”.
Castrol India Limited is one of India’s leading lubricant companies with brands like Castrol CRB, Castrol GTX, Castrol Activ, Castrol MAGNATEC and Castrol VECTON, which are the brands of choice for millions of consumers and customers across the country. Castrol has a large manufacturing and distribution network in India with three blending plants and a distribution network of 350 distributors who reach consumers and customers through over 100,000 retail outlets.
On Wednesday the Indian equity market opened on a higher note after closing lower in the previous session. At 2:30 pm IST today, Sensex was up 0.80% at 66,886.11 points, while Nifty 50 was up 0.73% at Rs 19,824.25 per share.