Shares of Castrol will remain active ahead of a planned suspension in trading in the stock beginning Friday. Castrol has decided cut its face value to ₹5 and return the remaining ₹5 to its shareholders in a move aimed at reducing its share capital. This will halve the company’s share capital to ₹247.28 crore. Castrol has fixed the record date as March 3 to determine the eligible shareholders. Castrol reported a net profit of ₹126.0 crore in Oct-Dec quarter this fiscal. The stock on Monday slipped marginally to ₹289.85.
Castrol: Beware of trading suspension
February 24, 2014:
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