Expect crude to remain in the range of USD 50-55/bbl: Castrol India

In an interview to CNBC-TV18, Omer Dormen, MD of Castrol India spoke about the results and his outlook for the company.

For the majority of the lubricant products, goods and services tax (GST) has been announced at 18 percent. He believes it is a good move and it will fuel larger demand in the market place.

“Our first priority is to ensure that we are ready and compliant and make sure that the transition to the GST environment is seamless and smooth for our company. We will pass the tax benefit to our consumers”, he said.

There are many uncertainties about how the GST is going to be implemented, so it is difficult to anticipate how the market will react to the structural changes, he added.