Porinju Veliyath Latest Stock Pick Confidence Petroleum

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Pee Vee
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Porinju Veliyath Latest Stock Pick Confidence Petroleum

Postby Pee Vee » Thu Jan 18, 2018 11:19 am

Confidence Petroleum is the latest stock pick of Porinju Veliyath Eq India Fund.

On 17th January 2018, Porinju Veliyath Eq India Fund bought 30,00,000 shares of Confidence Petroleum at Rs. 29.56 each.

This is the latest addition to the portfolio of Porinju Veliyath Eq India Fund.

Is Confidence Petroleum a multibagger?

Confidence Petro is in the refinery sector. The current market capitalisation stands at Rs 940.87 crore.

The company management includes Nitin Punamchand Khara - Chairman & M.D & CEO, Elesh Punamchand Khara - Executive Director & CFO, Sumant Jayantilal Sutaria - Independent Director, Mansi Manoj Deogirkar - Independent Director.

Confidence Petroleum recently commissioned two auto LPG dispensing stations in Tamil Nadu, located at Dindigul.

Confidence Petroleum is one of the largest LPG Cylinder manufacturer of India with 7 manufacturing units and 51 established plants, the company is working towards further expansion with more efficient plants, technical research & know how.

The workings of the Company Division-wise are as under:

- Cylinder Division:

Confidence Petro is engaged in business of cylinder manufacturing for Domestic as well as commercial use. The Company engages in the business of LPG & Auto LPG manufacturing, Packed Cylinder in the Brand name of “Go Gas”, LPG bottling services and refilling services with 51 established plants with
expansion year by year. Due to the dismantling of LPG subsidy by the Government, the illegal sales of
cylinders have shown a downfall, which is proving advantageous to your Company with its sales and
profitability rising.

- LPG Division:

The Company being one of the largest LPG Cylinder manufacturers of India has manufactured cylinders of all sizes including 4-14, 15-17, 21-35 Kg in capacity.

The LPG/CNG Cylinder manufacturing segment includes production and marketing operations of cylinder.

The LPG Bottling & Marketing segment includes bottling of LPG & supplies for commercial usage.

- Service & Refiling Division:

The results of segment-wise reporting of Confidence Petro show an increase of 59.59% in the Revenue from the Refilling &LPG Trading Division. The increase in the business of the Company is visible through its performance in various segments as depicted in comparison to the previous Financial Year.

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Joined: Thu Jan 18, 2018 10:51 pm

Re: Porinju Veliyath Latest Stock Pick Confidence Petroleum

Postby madsred » Thu Jan 18, 2018 10:55 pm

Has anyone taken this or Shalimar... As I see that was too added...

Posts: 116
Joined: Mon Jan 09, 2017 8:44 am

Re: Porinju Veliyath Latest Stock Pick Confidence Petroleum

Postby valuepicker » Sat Mar 03, 2018 8:21 pm

I have bought Shalimar Paints as it could be turnaround story..
With all other paint stocks doing well it could be a great multibaggers if changes implemented by company gives positive results

Posts: 39
Joined: Thu Nov 09, 2017 12:19 pm

Re: Porinju Veliyath Latest Stock Pick Confidence Petroleum

Postby SUMIT GHEI » Sun Mar 04, 2018 12:52 pm

good info and nicely explained. will buy

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