Castrol India shares surge 9% after BP announces 65% stake sale in parent for $6 billion

Castrol India shares surged 9% after BP announced the sale of a 65% stake in Castrol Limited to Stonepeak at an enterprise value of $10.1 billion. The transaction, expected to close by end-2026, is part of bp’s strategic divestment programme aimed at strengthening its balance sheet while retaining exposure to Castrol’s growth through a 35% stake.