As the dividend record date for Castrol India approaches, investors were keenly monitoring the stock’s performance. Unfortunately, the morning trading session on Tuesday revealed a disappointing trend, with Castrol India’s shares experiencing significant selling pressure. Initially, the stock opened at ₹229.01 on the NSE, quickly dipping to an intraday low of ₹220.30 shortly after trading commenced. However, some value buying emerged, and the shares are currently hovering around ₹221.50, marking a decrease of over 6% from the previous closing price of ₹236.02.

Dividend Announcement and Record Date

Castrol India has officially communicated its plans regarding the dividends to the stock exchanges. In a statement made during a board meeting held on February 3, 2025, the company declared an interim dividend of ₹9.5 per share, which includes a special dividend of ₹4.5 per share for the fiscal year ending December 31, 2024. This proposal is pending approval at the upcoming 47th Annual General Meeting. The record date for shareholders to be eligible for this final dividend is set for March 18, 2025, with anticipated payments by April 23, 2025, if approved.

Recent Share Price Movement

Over the past month, Castrol India’s stock has offered approximately 7% returns to its investors. Year-to-date, the price has climbed from ₹203.72 to ₹221.50, translating to nearly a 9% increase. Despite a decline of over 12% in the last six months, the stock has still managed to yield an impressive 10% return to those who held it for a year. Notably, over the past five years, Castrol India’s share price has skyrocketed by 95%, showcasing its long-term growth potential.

Future Outlook for Castrol India Shares

Looking ahead, Anshul Jain, the Head of Research at Lakshmishree Investment and Securities, has shared insights on the future trajectory of Castrol India’s stock. Jain noted that the share price has recently surpassed the 66-day cup and handle breakout at ₹220, supported by robust trading volumes. Currently, the stock is stabilizing around ₹240, forming an inside bar pattern, which may indicate a brief consolidation before the next price movement. A breakout above ₹242 could signal a substantial rally, potentially driving the stock towards ₹295. Traders are advised to monitor for sustained momentum above this critical level to confirm continued bullish momentum.

Investors should stay informed as Castrol India navigates market fluctuations and prepares for its upcoming dividend distribution. For more insights on stock performance and investment strategies, feel free to explore additional resources.