Buy Chennai Petroleum Corporation; target Rs 303: Kunal Bothra

Independent Analyst Kunal Bothra has a buy call on Chennai Petroleum Corporation with a target price of Rs 303. The current market price of Chennai Petroleum Corporation is Rs 286.70. Time period given by analyst is Intra Day when Chennai Petroleum Corporation price can reach defined target. Kunal Bothra recommended to keep stoploss at Rs 282. Chennai Petroleum Corporation , incorporated in the year 1965, is a Mid Cap company (having a market cap of Rs 4269.29 crore) operating in Petroleum sector.

Chennai Petroleum Corporation key Products/Revenue Segments include Petroleum Products which contributed Rs 44134.81 crore to Sales Value (99.87 per cent of Total Sales), Other Operating Revenue which contributed Rs 38.84 crore to Sales Value (0.08 per cent of Total Sales), Scrap which contributed Rs 13.07 crore to Sales Value (0.02 per cent of Total Sales) and Power which contributed Rs 1.76 crore to Sales Value (0.00 per cent of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 12004.06 crore, up 26.08 per cent from last quarter Sales of Rs 9520.94 crore and up 60.96 per cent from last year same quarter Sales of Rs 7457.93 crore Company has reported net profit after tax of Rs 20.93 crore in latest quarter. The company’s top management includes Dr.P B Lohiya, Mr.B V Rama Gopal, Mr.D Duraiganesan, Mr.Farzad Bahrami Bavani, Mr.G Aravindan, Mr.Mohammad Bagher Dakhili, Mr.Mrutunjay Sahoo, Mr.R Srikanthan, Mr.Rajeev Ailawadi, Mr.S N Pandey, Mr.Sanjiv Singh, Mrs.Perin Devi.