Dolly Khanna portfolio stock: Refinery stock, Chennai Petroleum Corporation (CPCL) has hit the upper circuit of 10% twice in two trading days. Today, the company’s shares rose 4.44% to reach Rs 291.65 in intraday. Veteran investor Dolly Khanna has made a big bet on this stock. Veteran Investments has bought 1 million shares i.e. 1 million shares through a bulk deal in the open market on NSE on Thursday, 28 April 2022. As per the bulk deal data, Khanna has bought shares at a price of ₹263.15.
This stock gave multibagger returns
Shares of Chennai Petrochemil (Chennai Petroleum Corporation Limited) have given a return of 118.23% in the last one month. The stock rose from Rs 133 to Rs 290.65 in a month. At the same time, this year this stock has given a return of 182.14% so far. This stock has given a tremendous return of 169.49% in the last one year.
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Who is Dolly Khanna?
Dolly Khanna is a Chennai-based investor who is known for choosing midcap and smallcap stocks that not many people know i.e. less popular stocks. She has been investing in stocks since 1996. Dolly Khanna’s portfolio is managed by her husband Rajiv Khanna. Dolly Khanna’s portfolio consists mostly of manufacturing, textile, chemical and sugar stocks.
Reasons to invest in Chennai Petroleum
As per estimates by experts, the company has registered a four-fold jump in a year for the March 2022 quarter. During the same quarter, net sales grew 88% year-on-year (YoY) to Rs 164.1 billion as against Rs 87.4 billion in the previous year quarter. The company’s EPS increased to ₹68.8 in March 2022 from ₹15.6 in March 2021. The oil and gas industry, on the other hand, has been hit hard by the COVID pandemic and the escalating Russo-Ukraine war. According to the International Energy Agency (IEA)’s Indian Energy Outlook report, crude oil demand in India is expected to increase from 242 MMT in 2019 to 411 MMT by 2040. With the increase in the demand for crude oil, this company can get the benefit of huge investment in future.
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In order to meet the growing energy needs expected in India, especially in the state of Tamil Nadu and other states, CPCL is planning to set up a 9.0 MMTPA Refinery at Nagapattinam in the Cauvery Basin in Tamil Nadu. All this is likely to have an impact on the company’s shares as well, due to which the share price may increase.