Castrol India signs agreement with M&M; Stock gains 2%

M&M will accredit a range of Castrol products under the brand, Mileage Ka Master (MKM)

Oct 12, 2018 06:10 IST India Infoline News Service

Castrol India
Castrol India has inked a strategic agreement with Mahindra & Mahindra for endorsement of tractor fluids from Castrol, under "Mileage ka Master" brand. Reacting to this, shares of Castrol India climbed 2% in the noon trade on Friday.

As per the deal, M&M will endorse a range of Castrol products, which include aftermarket engine oils and transmission fluids for Mahindra tractors under the brand, Mileage Ka Master (MKM), the company said in a press note on Thursday after market hours.  The agreement will be effective with immediate effect, Castrol India added.

Castrol India Ltd is currently trading at Rs143.60, up by Rs2.55 or 1.81% from its previous closing of Rs141.05 on the BSE. The scrip has opened at Rs143.95. It has touched a high and low of Rs145.25 and Rs142.40, respectively. So far 5,48,950 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs13,951.57cr.

Meanwhile, shares of Mahindra & Mahindra are currently at Rs768, up by Rs37.8 or 5.18% from its previous closing of Rs730.20 on the BSE. The scrip has opened at Rs739.90. It has touched a high and low of Rs771.10 and Rs737.95, respectively. So far 21,62,016 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs90,777.92cr.

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