Saudi Aramco - Business Outrank

Shares of Castrol India rose by 12% on March 6, which was their highest single day rise in the last eight months, after it was reported that Saudi Aramco is planning to place a bid for BP’s lubricant assets. According to the report, Aramco is currently assessing the possibility of acquiring part or the entire Castrol’s business with an aim of enhancing its presence in growing markets especially in India. The state owned oil company of Saudi Arabia, Aramco, after its purchase of Valvoline’s lubricants business in 2023 for $2.65 billion, may be planning to combine Castrol’s assets with its current operations. As of 12:40 pm, Castrol India’s shares were seen trading at Rs 248, touching the close proximity to its 52 weeks high of Rs 284. The company’s market capitalization, however, is Rs 23,600 crore. BP started a strategic review of Castrol, its lubricants business in September this year in order to increase value and divest a part of the stake to enhance its financials. Castrol brand covers over 150 countries and offers lubricants for automotive, marine, industrial and energy applications. It has also started selling liquid cooling technology for data centers not long ago. Aramco is looking for acquisitions in the refining and chemicals sector in Asia, and Castrol India, having a robust market position, can be a strategic buy for the future.

What's Hot

Vodafone Faces Major Outage in Delhi and Mumbai, Services Now Restored

DeepSeek Copied OpenAI Code? OpenAI Strikes Back with Bold New Rule

Italy’s Giorgia Meloni Meets Trump, Sparks Optimism on EU Trade Deal

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Saudi Aramco

Castrol India Shares Surge 12% Amid Saudi Aramco Bid Speculation

Vodafone Faces Major Outage in Delhi and Mumbai, Services Now Restored

DeepSeek Copied OpenAI Code? OpenAI Strikes Back with Bold New Rule

Italy’s Giorgia Meloni Meets Trump, Sparks Optimism on EU Trade Deal

Intel Shakeup: CEO Tan Restructures Leadership for Bold Comeback

Our Picks

Vodafone Faces Major Outage in Delhi and Mumbai, Services Now Restored

DeepSeek Copied OpenAI Code? OpenAI Strikes Back with Bold New Rule

Italy’s Giorgia Meloni Meets Trump, Sparks Optimism on EU Trade Deal

Most Popular

Vodafone Faces Major Outage in Delhi and Mumbai, Services Now Restored

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Saudi Aramco