TheScreener - Chennai Petroleum (CHENNPETRO) Increased risk weighs on CHENNAI PTL.CORP.LTD., penalising its rating down to Negative

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Increased risk weighs on CHENNAI PTL.CORP.LTD., penalising its rating down to Negative

The independent financial analyst theScreener just lowered the general evaluation of CHENNAI PTL.CORP.LTD. (IN), active in the Exploration & Production industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Negative. As of the analysis date October 18, 2019, the closing price was INR 160.00 and its target price was estimated at INR 146.65.

19/10/2019 6 EN

Underlying

Chennai Petroleum

Chennai Petroleum Corporation Limited. Chennai Petroleum Corporation Limited (CPCL) is a holding company. The Company operates in downstream petroleum sector. CPCL has approximately two refineries with a combined refining capacity of over 11.5 million tons per annum (MMTPA). The Manali Refinery has a capacity of approximately 10.5 MMTPA and is a refinery with fuel, lube, wax and petrochemical feedstocks production facilities. CPCL's second refinery is located at Cauvery Basin at Nagapattinam, which was set up in Nagapattinam with a capacity of approximately 0.5 MMTPA and later enhanced to 1.0 MMTPA. The main products of the Company are LPG, Motor Spirit, Superior Kerosene, Aviation Turbine Fuel, High Speed Diesel, Naphtha, Bitumen, Lube Base Stocks, Paraffin Wax, Fuel Oil, Hexane and Petrochemical feed stocks. The Wax Plant at CPCL has an installed capacity of over 30,000 tons per annum, which is designed to produce paraffin wax for manufacture of candle wax, waterproof formulations and match wax.

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INE178A01016 National Stock Exchange of India India

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Increased risk weighs on CHENNAI PTL.CORP.LTD., penalising its rating down to Negative

Empowering Investors

Chennai Petroleum's Q3FY19 results (Outperformer) - A very weak quarter!

Chennai Petroleum's Q2FY19 results (Outperformer) - Dissappointing operating performance

AC ENERGY CORP increases its risk exposure and slightly lowers to Neutral

With a more favourable environment, VUKILE PROPERTY improves to Positive

An unfavourable environment weighs on ROYAL BAFOKENG PLATINUM, which sees a downgrade to Slightly Negative

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