Chennai Petro on a Fall - 8th September 2016

Chennai Petroleum Corporation Limited (CMP - Rs. 294.60)

Our recommendation to buy Chennai Petro in Weekly Analysis of the Week 5-Sep-2016 to 9-Sept-2016 with Target of Rs. 312, had its report public on 7th September. Net Profit halved as per the report. With revised scenario, the stock is tend to fall.

Standalone net profit of Rs. 469.8 crore, or Rs. 31.55 a share, was 49.25% lower than Rs. 925.7 crore, or Rs. 62.17 per share, in the same period a year ago. Reason being a drop in prices of Oil.

Sell out Chennai Petro and Short your position with a Target of Rs. 272.

Patience was said to be the key to success in Share market but with increasing investors and speculators the new generation key to making money in Stock market is Timing.

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