MF Tracker: One of the most ‘unloved’ stocks this fiscal has surged over 110% so far
In April 2023, mutual funds completely exited public sector refining company Chennai Petroleum Corporation. The stock has more than doubled since then.
Chennai Petroleum Corporation Limited (Chennai Petro) has recently achieved a significant breakout level, which hasn't occurred in 14 years. From a technical standpoint, this suggests a strong bullish signal. However, before considering a buying opportunity for inves......read more
Stock given a breakout of multi year resistance zone probably we will see upside momentum in this stock that's all are probability not surety I can be wrong
Despite tough FY23, debt-to-equity of 18 cos falls below 1x; 5 turn multibaggers
Chennai Petroleum Corp: The companys debt-to-equity ratio came down significantly to 0.6 times as of March end, from as high as 3.09 times a year ago. The companys sales grew a sharp 77% in FY23, while the stock has given 25% returns in the last one year.
These FPI favourites still have room to offer upside of over 20%
Foreign Portfolio Investors (FPIs) have consistently increased their stakes in about 40 companies such as ITC, Raymond and Karnataka Bank among others in the past six quarters, according to data compiled by ET.
21,400 for Nifty very much on the cards going forward: Pankaj Pandey
If the Fed keeps to the expectation of not hiking, the macroeconomic scenario might improve and the overall deals might get converted into revenues in H2. Banking, automobiles, and Reliance, particularly the petrochemical business could do better. Input cost pressures are impacting companies such as Jubilant FoodWorks, as these costs remain at elevated levels.
Coforge, Century Textiles among 10 BSE smallcap stocks hit 52-week high
The S&P BSE SmallCap Index surged as several small-cap companies, including Ahluwalia Contracts, Anand Rathi Wealth, and Chennai Petroleum Corporation, hit new 52-week highs. Other companies achieving significant milestones include The Anup Engineering, Black Box, Bombay Burmah Trading Corp, CCL Products
Sectoral spotlight: Oil & gas likely to shed FY23 underperformance this fiscal; brokerages bet on IGL, BPCL
Despite weak performance in FY23, Indian oil and gas firms are expected to see revenue and margin growth in FY24 due to lower energy costs and a growing domestic consumer market, according to brokerage firms including Anand Rathi, Nuvama and Nirmal Bang. Firms such as GAIL, Gujarat Gas and Bharat Petroleum Corporation are among top picks. OMCs such as BPCL and IOCL also have strong dividend profiles and counter-cyclical prices, said Nuvama. However, fuel price reductions could pose a risk to earnings, as overall issues with crude prices continue to impact the sector.