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Buy Chennai Petroleum Corp Ltd For Target Rs. 1,100 By Yes Securities Ltd Weak performance hit by shutdown & inventory losses Chennai Petroleum’s Q2FY25 core performance was a disappointment, EBITDA loss was at Rs 6.7bn; negative USD1.6/bbl of reported GRM (our est. of positive USD2.9) on shutdown and inventory losses. As per our calculations, there is an inventory loss which could be at USD1.8/bbl with no forex impact during the quarter. As per our calculations, the core GRMs could be at USD 0.20/bbl which is much lower than the benchmark of USD3.6/bb...
Buy Chennai Petroleum Corp Ltd For Target Rs. 1,100 By Yes Securities Ltd
Buy Chennai Petroleum Corp Ltd For Target Rs. 1,100 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-01 09:11:06 am
Buy Chennai Petroleum Corp Ltd For Target Rs.1,450 By Yes Securities Our View  Chennai Petroleum’s Q1FY25 core performance was weaker than our expectations at USD5.2/bbl, with an EBITDA of Rs 6.6bn; USD6.33/bbl of reported GRM (our est. USD6) on narrowing Russian crude discounts. As per our calculations, there is an inventory loss which could be at USD1.13/bbl with no forex impact during the quarter. As per our calculations, the core GRMs could be at USD 5.2/bbl. Spot Russian crude sourcing moved up contributing 40% as it was available cheap comp...
Buy Chennai Petroleum Corp Ltd For Target Rs.1,450 By Yes Securities
Buy Chennai Petroleum Corp Ltd For Target Rs.1,450 By Yes Securities
Source: Yes Securities Ltd
2024-08-03 12:43:45 pm
India's Chennai Petroleum sees two year delay in building new 180,000 bpd refinery India's Chennai Petroleum Corp Ltd will build a 180,000 barrels per day (bpd) refinery at Nagapattinam in Southern Tamil Nadu State by the end of 2027, two years later than initially planned, its head of finance Rohit Kumar Agrawala said on Monday. India, the world's third biggest oil consumer and producer, is expanding its refining capacity as it is expected to be the largest driver of global oil demand growth between 2023 and 2030, according to the International Energy Agency. ...
India's Chennai Petroleum sees two year delay in building new 180,000 bpd refinery
India's Chennai Petroleum sees two year delay in building new 180,000 bpd refinery
Source: Reuters
2024-04-29 05:40:40 pm
Buy Chennai Petroleum Corp Ltd Ltd For Target Rs.1030 - Yes Securities Weak core performance on narrowing of Russian crude discounts Our View Chennai Petroleum’s Q3 FY24 core performance was weak, with an EBITDA of Rs 7.1bn; USD6.2/bbl of reported GRM (our est. USD8.5) on narrowing Russian crude discounts. As per our calculations, there is an inventory gain which could be at USD0.3/bbl due to higher quantity of crude sourced in Aug’23 which was cheaper and had higher discounts. As per our calculations, the RTP reduction of USD2/bbl impacted the...
Buy Chennai Petroleum Corp Ltd Ltd For Target Rs.1030 - Yes Securities
Buy Chennai Petroleum Corp Ltd Ltd For Target Rs.1030 - Yes Securities
Source: Yes Securities Ltd.
2024-04-26 12:19:09 pm
Buy Chennai Petroleum Corp Ltd For Target Rs.1030 By Yes Securities Weak core performance on narrowing of Russian crude discounts Our View Chennai Petroleum’s Q3 FY24 core performance was weak, with an EBITDA of Rs 7.1bn; USD6.2/bbl of reported GRM (our est. USD8.5) on narrowing Russian crude discounts. As per our calculations, there is an inventory gain which could be at USD0.3/bbl due to higher quantity of crude sourced in Aug’23 which was cheaper and had higher discounts. As per our calculations, the RTP reduction of USD2/bbl impacted the...
Buy Chennai Petroleum Corp Ltd For Target Rs.1030 By Yes Securities
Buy Chennai Petroleum Corp Ltd For Target Rs.1030 By Yes Securities
Source: Yes Securities Ltd.
2024-03-27 11:11:23 am
Buy Chennai Petroleum Corporation Ltd For Target Rs.1040 - Yes Securities Ltd Pure Refining play of robust GRMs With 10.5mtpa refining capacity at Manali, Chennai Petroleum Corp (CPCL) produces petroleum products, lubricants, and additives. Besides, it provides high quality feedstock (propylene, superior kerosene, butylene, naphtha, paraffin wax and sulphur) to other industries. IOC holds a strategic 51.9% stake in CPCL, as the latter fulfils product requirements for south India. CPCL has operational synergies with IOC, including pooled sourcing of crude oil through...
Buy Chennai Petroleum Corporation Ltd For Target Rs.1040 - Yes Securities Ltd
Buy Chennai Petroleum Corporation Ltd For Target Rs.1040 - Yes Securities Ltd
Source: Yes Securities Ltd
2024-01-22 06:20:26 pm