Multibagger stock of 2022 fixes record date for dividend for the FY 2021-22

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With a market valuation of Rs. 4,027.31 crore, Chennai Petroleum Corporation Ltd. is a small-cap corporation that operates in the gas and petroleum industry. One of IndianOil’s top group companies, Chennai Petroleum Corporation Limited (CPCL) presently stands out among India’s public-sector refining enterprises, manufacturing a variety of petroleum products.

The Board of Directors of the company said in a regulatory filing that “The Company has fixed Wednesday, August 10′”, 2022 as the “Record Date” for the purpose of determining the eligibility of the members to receive equity dividend of Rs.2.00 per share (i.e. @ 20% on the paid up equity share capital) for the financial year 2021-22. The dividend, if approved by the members at the AGM, will be paid within the stipulated period of 30 days of its approval.”

The shares of Chennai Petroleum Corporation Limited closed today at 270.50 apiece, down by 2.33% from the previous close of 276.95. The stock price climbed from 114.55 on August 4, 2021 to its current level during the course of the past year, representing a multibagger return of 136.14 per cent. The stock price has climbed from 103.30 on January 3, 2022, to the current level on a YTD basis, representing a multibagger return of 161.86 per cent to date in 2022. The price has soared from 113.40 on February 4, 2022, to the current level during the past six months, representing a multibagger return of 138.54 per cent. The stock has dropped 9.70 per cent over the past month, and 3.84 per cent during the past five trading days. 

At the current price level of 270.50, the stock is trading 35.26 per cent below its 52-week low and 186.39 per cent above its 52-week low on the NSE, where it reached a 52-week high of 417.85 on 08-June-22 and a 52-week low of 94.45 on 24-February-22. On the NSE 9,76,227 shares were traded today amounting to a traded value of 2,657.97 lacs. The last 20-day average volume is 2,739,975 shares. At the current market price of 270.50 the stock is trading lower than 5 days, 10 days, 20 days, 50 days EMA but higher than 100 days and 200 days Exponential Moving Average (EMA).

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