Query Trends : Chennai Petro

Query : I have 100 Chennai Petro shares bought at Rs.469.75, I am holding thse from last one month, the stock price is not going upwards shall I hold or get rid off it at current levels..plz advise. Suresh

Thebullishtrends : Chennai Petro shares closed yesterday at Rs.421. Chennai Petro is one of the good stock among oil sector stocks. It is having excellent and consistent financial track record. Strong rupee value is a positivce factor for this sector stocks. Chennai petro is expected to increase theri refining capacity 12 mn tonnes from the current level of 10.5 mn tonnes by 2009.

The share price before the second quarter results from Rs.280 to rose to Rs.420 current levels.
It is a category of low profile stock compared to PSU refinery stocks. Though it is having sound fundamentals but market fancy is low on this scrip, hence advised switchover from here to RIL for better gains in short span of time, or else you can hold this scrip for another 5 months.