News for Chennai Petroleum Corporation Limited (CHENNPETRO.BO)

Amidst market volatility, high beta stocks experienced steeper declines, with many falling significantly from their peaks. Low beta stocks demonstrated greater resilience, declining less on average. Factors like global trade tensions, FII selling, and concerns over corporate earnings have contributed to market wobbles. However, recent FII buying and expectations of India's economic outperformance offer some tailwinds.

Stocks including Reliance Industries, Maruti Suzuki, HDFC Bank, Lupin, Tata Communications, Caplin Point and Fortis Healthcare will be in the spotlight on Thursday, April 03.

The analysis revealed that nearly 96% (255) of low beta stocks have dropped by double digits from their 52-week peak, with 5% (13 stocks) falling over 50%.

PSU stocks such as Chennai Petroleum Corporation Ltd (CPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), Cochin Shipyard Ltd, MMTC Ltd, ITI Ltd and Oil India Ltd have led the losers, falling 47-59 per cent.

With a fall of nearly 63% from its 52-week high of Rs 474, Sun Pharma Advanced Research Company emerged as the top loser in the BSE 500 group

According to ACE Equity data, Rail Vikas Nigam was the top performer, surging an incredible 1,116% over three years. Cochin Shipyard followed with a 765% return.

NCC has received an order valuing at Rs 349.70 crore (excluding GST) in the month of December. The order is related to building division and is received from private company and does not include any internal order.

Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.

The Nifty index has formed a Doji candle near its 200-day exponential moving average (DEMA) support at 23,540, indicating uncertainty. Immediate support is at 23,500-23,540, with a break below 23,500 potentially targeting 23,300-23,200. While the short-term trend is down, a pullback rally remains possible if Nifty holds above 23,500, according to Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.

ONGC declined to the days low of Rs 309.2, with a fall of 4.2%. Chennai Petroleum Corporation shares dropped 5% to a low of Rs 933.3. GAIL and Oil India also witnessed a slide of up to 2%. Crude oil prices continued to slip on Wednesday. The US crude futures fell over 0.5%, following a more than 4% drop on Tuesday.

CPCL reports decline in net profit for June 2024 quarter, but improves physical performance with higher revenue.

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Based on the OI percentage, a total of 74 stocks were on the short-covering list which included Vodafone Idea, IndiaMART InterMESH, Biocon, Page Industries, and Sun TV Network.

Indian shares fell on Monday, following losses in Asian markets, as investor sentiment was subdued after Iran's retaliatory attack on Israel over the weekend spurred fears of a wider regional conflict. The NSE Nifty 50 fell 1.1% to 22,272, while the S&P BSE Sensex lost 1.14% to 73,399, at close.

Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.

Says the net worth of PSUs has touched Rs 70 lakh crore against Rs 9.5 lakh crore a decade ago

As many as 10 PSUs reported over 100% growth in net profit in Q3FY24 and 18 companies reported a profit growth of somewhere between 50% and 100%.

Continuing her December quarter buying spree, ace investor Dolly Khanna added multibagger Savera Industries to her portfolio while raising her stake in Control Print.

Ace investor Dolly Khanna added multibagger JKumar Infraprojects, Ujjivan Financial Services, and Zuari Industries to her portfolio. She bought 1% stake in JKumar Infraprojects, 1.13% in Ujjivan Financial Services, and 1.23% in Zuari Industries. Khanna also trimmed her stake in Chennai Petroleum Corporation. Her portfolio, managed by her husband Rajiv Khanna, includes 18 stocks with a net worth of over Rs 513 crore.