Ace investor Dolly Khanna has picked stake in two new stocks for the quarter ended June 2022. The stocks from the oil and gas segment are Chennai Petroleum Corporation and National Oxygen. Both stocks have already delivered multi-bagger returns in one year.
While shares of Chennai Petroleum Corporation zoomed 93.78 per cent, stock of National Oxygen rose 147 per cent in a year. In 2022, Chennai Petroleum has rallied 157 per cent. However, National Oxygen stock has slipped 23 per cent this year.
The Chennai-based investor bought 48,69,474 shares or 3.27 per cent in Chennai Petroleum in the first quarter of this fiscal. Khanna also picked 51,784 equity shares or 1.08 percent stake in National Oxygen in the last quarter, shareholding data on BSE show.
Buoyed by the development, shares of National Oxygen were stuck in the upper circuit of 10 per cent amid a weak market. The stock rose 9.96 per cent to Rs 114.30 on BSE. It closed at the same level today.
On the other hand, shares of Chennai Petroleum ended flat at Rs 263.50 on BSE.
Chennai Petroleum Corporation operates in the downstream petroleum sector. The company has approximately two refineries with a combined refining capacity of over 11.5 million tonne per annum (MMTPA). The Manali Refinery has a capacity of approximately 10.5 MMTPA and is a refinery with fuel, lube, wax and petrochemical feedstocks production facilities.
National Oxygen is engaged in manufacturing industrial gases, such as oxygen and nitrogen. The company is a supplier of industrial gases both in liquid and gaseous forms. The company's products include industrial liquid oxygen, industrial gaseous oxygen, industrial liquid nitrogen, medical grade oxygen liquid, medical grade oxygen gas, high purity nitrogen gas, commercial grade argon gas, high purity argon gas, instrumentation argon gas and dissolved acetylene gas.
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