Sell Chennai Petroleum, target Rs 290: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Chennai Petroleum Corporation Ltd. with a target price of Rs 290. The current market price of Chennai Petroleum Corporation Ltd. is Rs 295.9. Time period given by the analyst is Intra Day when Chennai Petroleum Corporation Ltd. price can reach the defined target. Dr CK Narayan recommended to keep the stop loss at Rs 301. Chennai Petroleum Corporation Ltd., incorporated in 1965, is a mid-cap company with a market cap of Rs 4406.29 crore.

Chennai Petroleum Corporation Ltd. key Products/Revenue Segments include Petroleum Products which contributed Rs 40585.90 Crore to Sales Value (99.94 % of Total Sales), Other Operating Revenue which contributed Rs 10.23 Crore to Sales Value (0.02 % of Total Sales), Scrap which contributed Rs 9.88 Crore to Sales Value (0.02 % of Total Sales) and Power which contributed Rs 1.51 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 31-03-2018, the company has reported a Standalone sales of Rs 9788.07 Crore, up 13.98 % from last quarter Sales of Rs 8587.17 Crore and up 43.54 % from last year same quarter Sales of Rs 6819.15 Crore Company has reported net profit after tax of Rs 178.14 Crore in latest quarter.


The company’s top management includes Dr.P B Lohiya, Mr.B V Rama Gopal, Mr.Farzad Bahrami, Mr.G Aravindan, Mr.K M Mahesh, Mr.M B Dakhili, Mr.Mrutunjay Sahoo, Mr.Rajeev Ailawadi, Mr.S N Pandey, Mr.Sanjiv Singh, Mr.U Venkata Ramana, Ms.Perin Devi. Company has S Viswanathan LLP as its auditoRs As on 31-03-2018, the company has a total of 148,911,400 shares outstanding.