May 4, 2018 / 5:14 AM / in 6 months

BUZZ-Castrol India posts steepest pct drop in 1-1/2 yrs as qtrly sales volumes pressured

** Shares of refined petroleum products supplier Castrol India fall as much as 7 pct in their biggest intraday pct drop since November 2016

** Stock hits 181.15 rupees, lowest since Feb. 6

** March-qtr profit rose marginally to 1.82 bln rupees ($27.3 mln), Castrol reported on Thursday

** Volume growth lower than analyst estimates - CIMB writes in a note

** Competition did not follow suit in raising prices, and pressure on volumes was largely on account of price premiums for Castrol’s products that were above the normal range, CIMB adds

** More than 2.9 mln shares traded as of 0455 GMT, 2.4 times their 30-day moving avg ($1 = 66.6800 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below