Castrol India inks deal with Ford; stock climbs 3%

As part of the agreement, Castrol India Limited will provide dedicated support to Ford Motors on the supply of engine and transmission oils to the Ford dealer channel network in India.

Mar 01, 2019 08:03 IST India Infoline News Service

Castrol
Castrol India and Ford Motors have inked a deal to supply engine and transmission oils. As part of the agreement, Castrol India Limited will provide dedicated support to Ford Motors on the supply of engine and transmission oils to the Ford dealer channel network in India.

“The two will work towards joint development and co-engineering of products for enhancing performance and efficiency of Ford vehicles,” mentioned the company in the exchange filing.

This arrangement will be effective from April 1, 2019.

Castrol India aims to maintain profitable volume growth through investment in brands, capability, distribution expansion, and advocacy.

The management expects to deliver 5-6% long-term volume growth, surpassing industry growth (2-4%), led by new product launches and new customer (OEMs) acquisitions.

Castrol India Ltd is currently trading at Rs159.20 up by Rs4.4 or 2.84% from its previous closing of Rs154.80 on the BSE.

The scrip opened at Rs154.50 and has touched a high and low of Rs160.50 and Rs154.50 respectively. So far 13,55,213 (NSE+BSE) shares were traded on the counter.

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