County Petroleum Financial News

Chennai Petroleum Corporation jumped 16% on Wednesday to hit their 52-week high of Rs 1,074.95 on the NSE after the company declared a final dividend of Rs 55 per share while reporting a 72% sequential surge in its March quarter net profit to Rs 627.89 crore. The final dividend would be paid within 30 days from the date of declaration at the AGM and the record date for the payment of final dividend would be intimated in due course, the company filing said.

Bajaj Finance, Tech Mahindra, Nestle India, HCL Technologies, Maruti Suzuki, and others are set to unveil their quarterly performances. Additionally, India's purchasing managers indices (PMI) figures will be unveiled on the macroeconomic front.

Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation Ltd (IOCL) saw their share prices rise up to 5% leading the gains for Nifty Oil & Gas index . Nifty Oil & Gas Index gained around 1.6%. Bharat Petroleum Corporation stood amongst largest gainers in Nifty -50 Stocks with gains of close to 3% .

California Gov. Gavin Newsom, Arnold Schwarzenegger and Jane Fonda are calling on voters to keep a law banning new oil and gas wells near homes, schools and hospitals as the oil industry fights to overturn it

US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million barrels of April-loading US crude so far this month, said traders who asked not to be identified.

A group of oil shippers is asking the Canada Energy Regulator to compel the company behind the Trans Mountain pipeline expansion to provide them with a full and detailed breakdown of the project’s escalating construction costs.

₹2 per litre each, effective from 6 am today (March 15). This is the first time since May 2022 that petrol and diesel prices have been reduced in the country and come days ahead of the 2024 Lok Sabha Elections.

NEW DELHI : State-run oil marketing companies (OMCs) have decided to cut the price of petrol and diesel by around ₹2 per litre with effect from 6am on Friday. With the revision in prices, petrol will be sold at ₹94.72 per litre in the national capital, against the current price of ₹96.72.

World markets today: US stocks dip ahead of inflation data Adani Power, Indian Railway Finance Corporation, Jio Financial Services, Power Finance Corporation, and REC Ltd have also joined the Nifty Next 50 index. Conversely, Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance have been removed from the index.

BAGHDAD (Reuters) — An explosive drone struck Khor Mor gas field in the Sulaimaniya region of northern Iraq on Thursday, two sources told Reuters, adding the explosion had caused limited damage but no one had been injured.

Dolly Khanna added multibagger JKumar Infraprojects in her portfolio in the quarter ended December 30, 2023 along with two more stocks Ujjivan Financial Services and Zuari Industries (ZIL).

Q3 results 2024: Amid celebrations of Ayodhya Ram Mandir Pran Pratishtha across the nation, 22 listed companies are going to declare their quarterly results for the October to December 2023 quarter. These 22 listed companies include Colgate Palmolive (India), Oberoi Realty, Coforge Limited, Mangalore Refinery and Petrochemicals, Karur Vysya Bank, Zensar Technologies, Chennai Petroleum Corporation, Spandana Sphoorty Financial, VST Industries, IIFL Securities, etc.

Q3 results this week: The usual trading session for the domestic benchmark equity indices, Nifty 50 and Sensex, will resume on January 23, as the markets are closed on Monday, January 22. Investors will be watching a slew of banks' Q3 earnings throughout today's session, as well as the stock reactions of firms like KFin Technologies Ltd, L&T Finance, Pidilite Ind, REC Ltd, IIFL Securities, Zensar Technologies, Axis Bank, JSW Steel Ltd, Indian Energy Exchange Ltd, SBI Life Insurance Company Ltd, Shriram Finance Ltd, Yes Bank and more.

Chennai Petroleum, a government-owned refinery company, saw its foreign institutional investor (FII) holdings reach an all-time high of 14.7% in the December quarter (Q3 FY24). In the same quarter of the previous fiscal year, FIIs owned a 4.7% stake in the company. FIIs have been increasing their stake in the firm steadily, but the majority of the increase happened in the most recent quarter.

Coal India , ONGC , OIL India, Power Grid Corporation of India , Petronet LNG, Gujarat State Fertilizers and Chemicals , PTC India , Rites , Gujarat Narmada Valley Fertilizers and Chemicals , Chennai Petroleum Corporation are the top PSU stock picks by Religare Broking paying high dividend yields. Dividend yield is one of the main factors to consider when investing in dividend paying stocks. It is an indicator of the returns investors are earning on their shares.

India's top gas importer Petronet LNG is likely to sign a deal this month to extend its long-term liquefied natural gas (LNG) imports from Qatar to beyond 2028, India's Oil Secretary said on Wednesday. Petronet has a 7.5-million metric ton per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp, Bharat Petroleum Corp and GAIL (India) Ltd has a 1 million tpy deal. Indian companies had until the end of 2023 to negotiate with Qatar for renewal of the deals to beyond 2028. «We are pretty close to signing the deal,» Oil Secretary Pankaj Jain told reporters. Qatar, the world's top LNG exporter, aims to expand its liquefaction capacity to 126 million tpy by 2027 from 77 million and has signed long-term deals with European majors Shell, TotalEnergies and ENI. It has also signed long-term gas deals with China's Sinopec, China National Petroleum Corp and Bangladesh.

Dolly Khanna, whose portfolio is managed by her husband Rajiv Khanna, have given multibagger returns inching up to 228% in 2023. Data available till the end of the September quarter on ACE Equity showed that Khanna owned 18 stocks in her portfolio out of which Chennai Petroleum, Talbros Automotive, Prakash Pipes, Tinna Rubber and Control Print have given multibagger returns this year. We have excluded stocks that were not owned by her. Prakash Industries has also given multibagger returns in the last one year but it is not considered in this list as the stock was not in her portfolio in December 2022. Chennai Petroleum Corporation Chennai Petroleum owns one of the largest standalone refineries in south India with a capacity of 10.5 mtpa.

BSE Sensex logged its fifth successive weekly gain and closed at 11-week high levels, supported by favourable macroeconomic data and sustained inflows by foreign institutional investors (FIIs). On the stock-specific front, Asian Energy Services, 63 Moons Tech, India Cements, Tanfac Industries, HBL Power, Shalimar Paints, Poonawalla Fincorp, Dixon Technologies, Reliance Infra, MTNL, Bharat Dynamics, Chennai Petroleums, Finolex Cables, NBCC (India), Carysil, and others are among the smallcaps that logged a double-digit rise in their share prices last week.

China’s e-CNY pilot program is gaining significant attention as three additional banks join the initiative.

By Sabrina Valle

In a historical first, PetroChina – a Chinese-state-owned oil and gas company – has officially completed its first international crude oil trade using the digital yuan (e-CNY).