CPCL moves up on setting up retail fuel outlets with Rs 400 crore investment
Chennai Petroleum Corporation is currently trading at Rs. 653.90, up by 2.55 points or 0.39% from its previous closing of Rs. 651.35 on the BSE.
The scrip opened at Rs. 651.85 and has touched a high and low of Rs. 662.80 and Rs. 648.00 respectively. So far 68195 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1274.00 on 16-Jul-2024 and a 52 week low of Rs. 433.20 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 737.00 and Rs. 648.00 respectively. The current market cap of the company is Rs. 9737.32 crore.
The promoters holding in the company stood at 67.29%, while Institutions and Non-Institutions held 12.82% and 19.89% respectively.
Chennai Petroleum Corporation (CPCL) is setting up retail outlets for the sale of petrol and diesel, marking its re-entry into the direct fuel retail segment nearly two decades after its earlier exit. Approval for this initiative has been granted by the Ministry of Petroleum and Natural Gas.
An initial capital expenditure of approximately Rs 400 crore has been earmarked for this project over the next two to three years. The first phase of retail outlets is expected to be launched during CPCL’s Diamond Jubilee year, with site selection being carried out based on market potential and strategic location analysis.
The rollout is being approached cautiously, with further expansion into other states planned based on market response and prevailing conditions. The initiative is aimed at addressing existing market demand and expanding CPCL’s presence in the fuel retail segment. This move is considered part of CPCL’s broader strategy to diversify its business portfolio and build sustainable value over time.
Chennai Petroleum Corporation is in the business of refining crude oil to produce & supply various petroleum products.
