Stocks are holding steady Wednesday as Wall Street bides its time until the Federal Reserves announcement in the afternoon about whether it will tighten the screws further on the economy.

The earnings of OMCs have been under pressure for the past few quarters following the Russia-Ukraine war to high energy prices resulting in steep losses. The recovery was strong in the latest third quarter, led by robust refining and marketing margins.

Chennai Petroleum Corporation, incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 3925.30 Crore) operating in Gas & Petroleum sector.

Concerns over the exposure of Adani Group companies to the banking sector slightly receded last week on the back of the Rs 15,446-crore, or $1.87-billion, fundraising exercise to US-based investment firm GQG Partners.

Take a look at balup1985's view of the market on FrontPage. #CHENNPETRO Fundamentally & Technically looks very strong.FII has increased their stakeDII retainsOnly retailers reduced their stake.Technically a round bottom is formed.Downward slope trendline breakout is confirmed with good volumesA high probability of upmove after the resistance level 250 is evident.Keep tracking !!I would plan for an entry at CMP for a target 340 Holding period min 6 Months.https://www.tradingview.com/x/rp59t5ex/Disclaimer: Due diligence.

Nifty opened on a negative note on Monday & moved lower in the beginning of the session. However, the key hourly moving averages offered support on the downside & restricted further downside. Consequently, the index traded in a sideways manner as the day progressed & ultimately formed an Inside bar on the daily chart

HIL has surpassed the crucial resistance of its 50-day EMA (Rs 2,730). It has also confirmed higher top and higher bottom formation on the daily chart. Price has been rising with healthy volumes.

The data released on Thursday showed that inflation cooled off to a 12-month low of 5.72% in December, which led to hopes that the rate hike cycle of the Reserve Bank of India may not last long. Similarly in the US, consumer price inflation in December fell for the first time since May 2020

In Thursdays trading session, the shares of the company ended with a cut of 1% at Rs 174.85 apiece on the NSE. As per the latest corporate shareholding filing, Khanna holds 21 stocks with an estimated net worth of Rs 394 crore.

Chennai Petroleum Corporation Ltd., incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 3153.20 Crore) operating in Gas & Petroleum sector.

Further, farm income is expected to grow higher on the back of a good Rabi crop season. And inflation pressures are showing signs of easing. Moreover, the persistent COVID-led restrictions in China and major slowdown in Europe has forced companies globally to look for alternate sources and this became a major boon for India.

The target entity is initially proposed to be incorporated through seed capital of Rs 5 lakh

Archean Chemicals and Five Star Business Finance will make their Dalal Street debut on Monday after both company's issue aggregating to Rs 1,462 crore and Rs 1,960 crore, respectively were open between November 9-11.

The company's total expenses surged 75.84% year-on-year (YoY) to Rs 22,870.80 crore during the quarter under review. The cost of raw materials consumed soared 132.42% YoY to Rs 18,842.33 crore in the second quarter of the financial year 2023.

SBI Cards, Indus Towers, Tata Chemicals, REC, Aditya Birla Sun Life AMC, V-Guard Industries, Balaji Amines, Anupam Rasayan, TMB PNB Housing, Latent View and CE Infosystems is among the companies that will announce their results for September 2022 quarter today.

Some of the important results to be announced this week are of CG Consumer, Gland Pharma, IIFL Finance, Balaji Amines, Indus Towers, CE Info Systems, PNB Housing, SBI Card, Tata Chemicals, Apex Frozen, Bandhan Bank, Blue Dart, MRPL, Maruti Suzuki, NIIT and Vedanta among others.

Chennai Petroleum Corporation is among the fours companies that will announce their results for September 2022 quarter today.

Asian share markets beyond China showed signs of strength on Tuesday following a rally in US stocks buoyed by optimism from early corporate earnings reports.

SBI Cards and Payment Services, Indus Towers, Tata Chemicals, REC, Aditya Birla Sun Life AMC, V-Guard Industries, Tamilnad Mercantile Bank, PNB Housing Finance, Latent View Analytics, PC Jeweller, Lloyds Steels Industries, Indian Metals & Ferro Alloys, Supreme Petrochem, Gangotri Textile

“I think a proper portfolio should have both. Right in the end, we will have some interest in the financials. Today the financials look better for the banks than they do for a lot of NBFCs. I would focus on the banks for the financial part of things. I would focus on some IT companies. In fact, I like largecap IT more than small and midcap IT.”

According to the data from Ace Equity, about a dozen state-run companies have delivered between 50-170 per cent return in the current calendar year, with at least four turning multibaggers as of September 19. However, this performance has been concentrated to select pockets. Only stocks related to petroleum refinery, coal mining, defence and banking stocks have been able to outperform.

“The way the windfall tax part is playing out, is not good and Reliance may not really benefit as much from this as some of the standalone refineries. Anyway the midcap sector and stocks are in far more momentum and it would be good to participate in these names rather than the other OMCs,” says Hemag Jani.

“The way the windfall tax part is playing out, is not good and Reliance may not really benefit as much from this as some of the standalone refineries. Anyway the midcap sector and stocks are in far more momentum and it would be good to participate in these names rather than the other OMCs.”

The government has raised the windfall profit tax on the export of diesel to Rs 13.5 a litre and the levy on ATF has been increased to Rs 9 a litre

India's largest asset manager, which handles AUM worth around Rs 6.7 lakh crore, bought over 1 lakh shares of Chambal Fertilisers and Chemicals during the month. On the other hand, it sold Escorts Kubota, NBCC, Firstsource Solutions, Whirlpool of India, Solara Active Pharma, Indiabulls Housing Finance and Intellect Design Arena.

Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminium Company are among companies that will announce their quarterly earnings today.

“Asian Paints we expect about 31% kind of a revenue growth on a YoY basis. But if you normalise on a three-year basis, it prints normal growth of about 13 odd percent and largely driven by realisation, volume growth is expected in single digits.”

​​Chennai-based Dolly Khanna, whose portfolio is managed by her husband Rajiv Khanna, picked up stocks such as Chennai Petroleum Corporation, National Oxygen and Monte Carlo Fashions. Chennai Petroleum surged 145% in the June quarter amid rising crude oil prices.

The government on July 1 imposed an export tax on petrol, diesel and aviation turbine fuel (ATF) as well as a windfall tax on crude oil produced locally, sending stock prices of oil refiners and producers crashing. The moves dented market expectations of further record profits, which have been driven by elevated oil prices and a global energy deficit.

As per the latest corporate shareholdings filed, Dolly Khanna publicly holds 24 stocks with a net worth of over Rs 535.5 crore, shows Trendlyne data. Top bets include Chennai Petroleum, Polyplex Corp, Sharda Cropchem and KCP.

Foreign portfolio investors' (FPIs) stake in National Aluminium increased from 13.30% to 16.71% between January and June, while in Hindustan Aeronautics, their stake rose from 3.15% to 5.56%. In Oil India, FPIs increase their stake from 10.11% to 12.42%. Similarly, these investors increased their stake in RCF, BEML, Chennai Petro, Engineers India, Shipping Corporation, Bharat Dynamics, and Mazagon Dock, among others.

Shares of Chennai Petrochem have rallied as much as 170 per cent in the year 2022 so far. The stock gained up to 150 per cent during the recently concluded quarter alone. However, the stock is down over 35 per cent from its 52-week high.

Among oil producers, ONGC tumbled 13.4%, Oil India slumped 15.1% and Vedanta declined 4% while among refiners, Mangalore Refinery & Petrochemicals Ltd (MRPL) fell 10% and Chennai Petroleum Corporation Ltd (CPCL) shed 5.2%. The BSE Energy index was the biggest laggard among sector indices, down 4%.

Oil refining companies, especially those that export refined products, gain from higher crude oil prices as they improve margins

“Purely from a monsoon perspective, some of the names where we have a positive view are Coromandel International, United Phosphorus and UPL. These are the companies where we like the core business and if we have good traction on the monsoon over the next few weeks, then these companies will see renewed buying interest.”

May crude production by Oil India Ltd was about 4% less than the target, Friday's release from the Ministry of Petroleum and Natural Gas said, attributing the dip to 'Less than planned contribution' from oil wells and "local disturbance and miscreants activities in main producing area." But the recovery may be short-lived as production problems persist, compounded by mature oilfields and the lack of drilling while India's dependence on foreign oil increases, with "the trend unlikely to be reversed," Ul Haq added.

The buying has come on the heels of rising refining margins. The benchmark Singapore gross refining margin (GRM) has jumped to a record high of $25.2/barrel, which bodes well for Indian refiners, said analysts.Management of some companies have guided for a bumper year ahead.

Share your videos with friends, family, and the world

A reasonable negative candle formed on the daily chart, placed beside the small negative candle of the previous session. This pattern indicates choppy movement in the market with a negative bias, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

The Nifty Pharma index closed 1.07 per cent down at 12279.65.

Stocks that were in focus include names like MRPL which rallied nearly 20 per cent, Chennai Petroleum rose nearly 15 per cent, and Oil India gained nearly 3 per cent on Tuesday.