Crude is up 5% still chennai petroleum is falling... Strange. High crude price means high refining margin means high profit for CPCL. It should go up minimum 10% today.
Can any one answer why this is falling today???
There is big difference in Chennai Petroleum and other Oil Manufacturing Companies. Other OMCs are refining as well as marketing. Effect of high crude price is negative for other OMCs. Where as for Chennai petroleum increase in crude price is positive as Chennai Petroleum is only refining and selling product at international price. High crude means high GRM which leads to very high profit for chennai petroleum.
So buy buy and buy Chennai Petroleum.
| NIFTY 
