Eastern Lubricants to distribute Castrol products in govt sector
Earlier, in April this year, Castrol – one of the world’s leading lubricant brands – appointed Rock Energy as its exclusive distributor for the automotive aftermarket in Bangladesh.
Eastern Lubricants Blenders PLC, a state-owned listed company, has decided to distribute Castrol lubricants in Bangladesh's government sector as part of its business diversification strategy.
According to a disclosure filed with the Dhaka Stock Exchange (DSE) today (24 July), the company's board approved a draft Deed of Agreement with Rock Energy Ltd, the authorised distributor of Castrol lubricants in Bangladesh, to provide Castrol lubricants.
Earlier, in April this year, Castrol – one of the world's leading lubricant brands – appointed Rock Energy as its exclusive distributor for the automotive aftermarket in Bangladesh.
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Following the announcement, shares of Eastern Lubricants fell 1.83%, closing at Tk2,776.80 — currently the second-highest priced stock on the Dhaka bourse.
Before the disclosure, the company's share price had surged by 48%, rising from Tk2,041.20 on 24 May to a peak of Tk3,020.20 on 16 July. Since then, the stock has gradually declined.
