Buy Chennai Petroleum Corporation, target price Rs 254: HDFC Securities

HDFC Securities has buy call on Chennai Petroleum Corporation Ltd. with a target price of Rs 254. The current market price of Chennai Petroleum Corporation Ltd. is Rs 209.95.

Chennai Petroleum Corporation Ltd., incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 3153.20 Crore) operating in Gas & Petroleum sector.

Chennai Petroleum Corporation Ltd. key Products/Revenue Segments include Petroleum Products, Other Operating Revenue, Scrap and Power for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 19512.82 Crore, down -28.92 % from last quarter Total Income of Rs 27453.46 Crore and up 120.28 % from last year same quarter Total Income of Rs 8858.12 Crore. Company reported net profit after tax of Rs 20.01 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 67.29 per cent stake in the company as of 30-Sep-2022, while FIIs owned 4.01 per cent, DIIs 3.29 per cent.