Castrol India shares dip on strategic review news

Castrol India [BSE: 500870] shares experienced a dip today following an announcement from its ultimate holding company, BP p.l.c., regarding a strategic review of its global lubricants business. The review encompasses all options for value creation, with potential proceeds earmarked for strengthening BP's balance sheet. According to the announcement, BP is carrying out this strategic review with the intention of accelerating Castrol's next phase of value delivery. Castrol, a global lubricants brand marketing premium products in more than 150 countries, has significant growth ambitions. BP's decision to launch the review has prompted investor caution, with the company advising consideration of risk factors detailed in its latest Annual Report and Form 20-F filed with the SEC.