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Chennai Petroleum Corporation gains on revamping existing diesel hydro-treating unit

Chennai Petroleum Corporation is currently trading at Rs. 195.00, up by 0.80 points or 0.41% from its previous closing of Rs. 194.20 on the BSE.

The scrip opened at Rs. 194.50 and has touched a high and low of Rs. 196.00 and Rs. 191.75 respectively. So far 63781 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 344.80 on 13-Aug-2018 and a 52 week low of Rs. 176.05 on 11-Jul-2019.

Last one week high and low of the scrip stood at Rs. 196.70 and Rs. 184.00 respectively. The current market cap of the company is Rs. 2908.24 crore.

The promoters holding in the company stood at 67.29%, while Institutions and Non-Institutions held 22.14% and 10.58% respectively.

Chennai Petroleum Corporation is revamping the existing diesel hydro-treating unit from 1.8 to 2.4 million metric tonnes per annum (MMTPA) along with new Sulphur Recovery Unit, to meet BS-VI fuel quality norms which would come into effect from April 1, 2020. The company is also engaged in installing a new 0.6 MMTPA capacity FCC gasoline desulphurisation unit with associated facilities.

Chennai Petroleum Corporation, a Group company of Indian Oil Corporation is an Indian state-owned oil and gas corporation headquartered in Chennai, India.

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