CHENNPETRO.NSE News

Stock market today: Experts have recommended these five stocks to buy today — MRPL, Chennai Petroleum Corporation, Mphasis, Torrent Pharma, and Hindustan Zinc

Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — Torrent Pharmaceuticals, CCL Products (India), Schaeffler India, Jammu and Kashmir Bank, and Chennai Petroleum Corporation.

Under the new growth initiative, the Chennai-based company will foray into the retail business with 300 fuel stations by mid-2028, said managing director H Shankar

NEW DELHI: India’s Chennai Petroleum Corp (CPCL) plans to expand its south India-based Manali refinery’s capacity to 280,000 barrels per day from 210,000 bpd and enter fuel retailing as part of a growth strategy, a top executive said on Thursday. The company is a subsidiary of the country’s top refiner, the state-run Indian Oil Corp, and sells almost all of its transportation fuels - diesel and gasoline - to its parent, which has a robust local retail network. Under the new growth initiative, the Chennai-based company will foray into the retail business with 300 fuel stations by mid-2028, said managing director H Shankar. “CPCL 2.0 will be a different version of what industry has seen it as a standalone refinery,” he said at an industry event. India’s Russian oil imports show resilience despite sanctions, sources say He said the company hopes to get a feasibility study on the Manali refinery expansion by October 2026, which will help decide cost and configuration of new units. Shankar also said CPCL is in the process of finalising the configuration of its planned 180,000 bpd refinery and linked petrochemicals units at Nagapattinam in southern Tamil Nadu state.

The analyst cited breakout patterns, volume confirmation, and strong earnings momentum in both stocks.

Tata Motors is nearing an inverted head-and-shoulders breakout, while Dixon, Chennai Petro and Ugar Sugar are riding volume-backed patterns.

Analysts warn of further downside if key support at 24,850 fails to hold.

An analyst has identified four Nifty 500 stocks showing bullish momentum, adding that these could be early-stage breakouts worth watching.

The stock is poised for further gains with a target of ₹829, supported by a solid technical uptrend.