Dolly Khanna books profit for 3rd straight quarter in this IOCL subsidiary – what should you know?

Dolly Khanna Portfolio: Ace investor Dolly Khanna has booked profit in Chennai Petroleum Corporation by trimming nearly 0.1 per cent stake in the company during the March quarter, the shareholding pattern revealed.

Chennai-based investor Khanna has 31,64,020 equity shares or 2.12 per cent stake in Chennai Petro, the shareholding pattern of the company available on the exchanges showed.

According to SEBI norms, all the listed companies have an obligation to disclose the names of their key shareholders owning a per cent or more on a quarterly basis.

The celebrity investor had 32,76,408 shares or a 2.20 per cent stake in the oil exploration and production company during the December quarter, according to the company’s holding pattern.

Khanna made a fresh entry in this stock in June 2022 quarter, this comes on the backdrop of higher crude oil prices mainly due to the Russia-Ukraine crisis. Since then, she has been booking profit for straight three quarters.

The renowned investor, whose portfolio is monitored by many investors, publicly holds 14 stocks with a net worth of over Rs 228.7 crore as of April 11, 2023.

Her portfolio typically leans towards more traditional stocks in textile and chemicals, as per the stock analysis website trnedlyne.com.

Chennai Petro share price history

Chennai Petro shares jumped nearly 43 per cent in the last one year and it has gained over eight per cent in the previous six months. Year-to-date, the stock grew more than 20 per cent on the NSE.

In comparison, the Nifty50 is flat with positive bias in one year, while it gained over four per cent in the past six months and it dipped by almost three per cent YTD.

About Chennai Petro

Chennai Petro, formerly known as madras refinery, is a subsidiary company of Indian Oil Corporation Limited, which is under the Ministry of Petroleum and Natural Gas.

The present shareholders are IOCL, NICO, and others holding 51.89,15.40 and 32.71 per cent shares respectively.

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