Chennai Petroleum Corporation Limited shares rose 5 per cent on Friday after the company reported a two-fold jump in Q2 profit. The firm also declared a ₹25 dividend for shareholders. While the broader market fell, investors cheered the strong results and the improved refining margins reported for the quarter.
Chennai Petroleum Corporation Limited (CPCL) shares bucked the market sell-off on Friday, rising over 5 per cent intraday after the company reported a two-fold increase in net profit for Q2FY27 and declared an interim dividend of ₹25 per share.
The stock opened higher at ₹1,462 and extended its gains to hit an intraday high of ₹1,529.90 on the NSE. However, it pared some gains as the session progressed, trading at ₹1,481.30 around 1:30 PM.
In comparison, the benchmark Nifty 50 was down 275 points, or 1.22 per cent, at 22,410.
Chennai Petroleum Corporation Limited, a subsidiary of the Indian Oil Corporation Limited (IOCL), is primarily engaged in refining crude oil.
Chennai Petroleum Q2 results
MSCI India rejig: JM Financial sees 3 inclusions, 2 exits & $1.4 bn inflows
Steel Strips zooms 19%, hits record high on heavy volume post Q2 results
Market crash: Sensex sinks 1,314 pts from day's high; Nifty tests 22,400
Lost mettle! VAML, Vedanta, Nalco sink up to 6% as metal index drops 3%
TCS share price surges 28% in October, hits over 7-month high; here's why
For the quarter ended September 30, 2026, its revenue from operations stood at ₹22,109 crore, up 10 per cent from ₹20,069 crore in the corresponding period of last year.
The company reported a Profit After Tax (PAT) of ₹2,271 crore in the three-month period under review, as against a PAT of ₹732 crore during the same quarter last year. This translates into a gain of 210 per cent on a Y-o-Y basis.
The Gross Refining Margin (GRM) for the second quarter showed a substantial improvement, rising to $20.41 per barrel compared to $9.04 per barrel in the corresponding quarter of the previous year.
For the half year ended September 30, 2026, the company reported a PAT of ₹3288 crore, as compared to a profit of ₹675 crore in the corresponding period of the previous financial year. Revenue from operations stood at ₹51,486 crore in the reporting six-month period, up from ₹38,762 crore in the previous year. The GRM was at $14.34 per barrel, as compared to US$ 6.17 per barrel recorded during the same period last year.
Chennai Petroleum dividend 2026 record date
The board of Chennai Petroleum also declared an interim dividend of ₹25 per equity share of face value of ₹10 each for the financial year 2026-27.
The board has fixed October 30 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend. The dividend will be paid to eligible shareholders on or before November 21.
Chennai Petroleum stock: Technical view
Harish Jujarey, AVP, equity research at Prithvi Finmart, said that Chennai Petroleum has shown strong resilience over the past 5-6 months despite a weakness in the markets. The stock has been steadily moving higher within an upward-sloping channel, with the 50-day moving average providing consistent support. Currently, it is trading near the support zone of ₹1,410-1,430, which coincides with the lower end of the channel and the 50-DMA.
On the upside, ₹1,600 remains an immediate hurdle, and a breakout above this level could pave the way for a fresh record high near ₹1,760, he said.
"The RSI has cooled off to 53.40 during the recent consolidation, suggesting scope for positive momentum. Overall, the technical outlook remains constructive," the analyst added.
Stock Market LIVE: Sensex rebounds 600 pts from day's low; Godrej Properties shares fall 6%