BP trims stake in Castrol India by 11%
BP held a 71 percent stake in the company before the sale
Oil major BP Plc sold part of the stake its unit Castrol Ltd holds in Castrol India Ltd, but said it would remain a majority shareholder in the company.
The company said it sold an 11.5 percent stake in the Indian lubricants maker to a range of domestic and international investors. It held a 71 percent stake in the company before the sale.
Terms of the deal were not disclosed.
It remains to be seen if the index would stage an emphatic breakout past this crucial resistance zone.