Dolly Khanna Buys Stake Into This Refining And Marketing Entity; Stock Hits Fresh 52-Week High

Shares of Chennai Petroleum in trade on April 29 have hit a 10% upper circuit of Rs. 279.55. This is also the stock's 52-week high price. The lifetime low and high price for the refining and marketing major is Rs. 17.55 and Rs. 480.5 per share, respectively.

In the Q4 period of Fy22, the company's revenue from operations more than doubled YoY to Rs. 16413.57 crore. While its net profit soared substantially to Rs. 994.42 crore as against Rs. 231.79 crore in the same quarter a year ago.

Further as per the Bulk deal data, on April 28, 2022, ace investor Dolly Khanna bought 1 million shares (equating to 0.67% stake) in the firm at a price of Rs. 263.15 per share.

Meanwhile, in Q4FY22, the company reported four-fold jump in its consolidated net profit at Rs 1,002 crore as against Rs 242 crore in Q4FY21. Revenue from operations jumped 43 per cent year on year to Rs 20,997 crore from Rs 14,705 crore in previous year quarter.

Chennai Petroleum, a small cap company, offers high speed diesel (HSD) and motor spirit (MS). The Company operates in the downstream petroleum sector.