Sell Chennai Petroleum Corporation, target Rs 220: Kunal Bothra

Independent analyst Kunal Bothra has a sell call on Chennai Petroleum Corporation Ltd. with a target price of Rs 220.0 . The current market price of Chennai Petroleum Corporation Ltd. is Rs 230.5. Time period given by the analyst is Intra Day when Chennai Petroleum Corporation Ltd. price can reach defined target. Kunal Bothra recommended to keep stoploss at Rs 235. Chennai Petroleum Corporation Ltd., incorporated in 1965, has a market cap of Rs 3432.41 crore.

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

For the quarter ended 31-03-2019, the company has reported a Consolidated sales of Rs 9956.75 Crore, up .92 % from last quarter Sales of Rs 9865.83 Crore and up 1.72 % from last year same quarter Sales of Rs 9788.07 Crore Company has reported net profit after tax of Rs -29.44 Crore in latest quarter. The company’s top management includes Dr.P B Lohiya, Mr.B V Rama Gopal, Mr.Babak Bagherpour, Mr.D Duraiganesan, 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. Company has Viswanathan LLP as its auditoRs As on 31-03-2019, the company has a total of 148,911,400 shares outstanding.