It raised CY19-21 estimates by +7%/+19%/+14% on cut in corporate tax rate.
Castrol India share price rose 2% in the early trade on November 19 after foreign research house HSBC maintained buy and raised target to Rs 165 from Rs 142 per share.
It has touched an intraday high of Rs 147.05 and an intraday low of Rs 145.55.
According to HSBC, the Q3CY19 volumes were down sharply in a seasonally weak quarter, while margins still growing on strong realisations and good cost control.
It raised CY19-21 estimates by +7%/+19%/+14% on cut in the corporate tax rate.
At 0931 hrs Castrol India was quoting at Rs 146.80, up Rs 2.30, or 1.59 percent on the BSE.
The share touched its 52-week high of Rs 172.80 and its 52-week low of Rs 112.75 on 03 April 2019 and 22 August 2019, respectively.
Currently, it is trading 15.05% below its 52-week high and 30.2 percent above its 52-week low.
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