Shares of Castrol India fell as the company has warned of volatility in the first half of 2017.

The stock plunged as much as 2.7 per cent to Rs 421.50.

The company had posted 10.7 per cent gain in December quarter profit on Tuesday, but warned of higher volatility in the first half of 2017.

According to a company statement, it has cited rising input costs and continued impact from the government's move to withdraw high-currency notes.

The stock has posted biggest intraday percentage fall since January 20.

Up to Tuesday's close, stock had gained about 14 per cent this year.