Castrol India share price crashes over 6% on dividend record date. Do you own?

Castrol India share price: As Castrol India dividend record date falls today, the scrip was on the watch list of market observers. However, to their disappointment, Castrol India share price witnessed sharp selling in the early morning session on Tuesday. Castrol India's share price today opened with a downside gap at ₹229.01 per share on the NSE and touched an intraday low of ₹220.30 apiece within a few minutes of the Opening Bell. However, the dividend stock witnessed some value buying at the lower level and is currently available at around ₹221.50 apiece, more than 6 per cent below Monday's close price of ₹236.02 per share.

Castrol India dividend record date

The company has already informed the Indian stock market exchanges about the interim dividend and final dividend, saying, "It is hereby informed that the Board of Directors at its meeting held today, i.e. Monday, 3 February 2025, inter-alia: Recommended a Final Dividend of INR 9.5/- per share of the face value of INR 5/- each (which includes a Special Dividend of INR 4.5/- per share) for the financial year ended 31 December 2024, subject to approval by the Shareholders at the 47th Annual General Meeting; and Fixed the record date as Tuesday, 18 March 2025 for determining entitlement of members to Final Dividend for the financial year ended 31 December 2024. The dividend, if approved by the Shareholders, will be paid on or before Wednesday, 23 April 2025."

Castrol India's share price history

In one month, Castrol India's share price delivered around 7 per cent returns to its shareholders. At the same time, in YTD time, it has risen from ₹203.72 to ₹221.50 apiece level, delivering nearly 9 per cent return to its shareholders. Castrol India shares have shed over 12 per cent in the last six months. However, in one year, this dividend stock has delivered over 10 per cent return to its positional investors. Castrol India's share price has ascended to 95 per cent in the previous five years.

Castrol India share price target

Speaking on the outlook of Castrol India share price, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “Castrol India share price has surged past the 66-day cup and handle breakout at ₹220, backed by strong volume. Currently consolidating around ₹240, forming an inside bar suggests a brief pause before the next move. A breakout above ₹242 could trigger a sharp rally, with the stock likely heading towards ₹295 soon. Traders should watch for sustained momentum above ₹242 to confirm further bullish action.”

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.