Stock Market Today: Multibagger Shares Reach Upper Loop Despite Strong Selloff

Stock market today: Shares of Chennai Petroleum Corporation Limited hit the upper loop for the fifth consecutive session today. Chennai Petroleum share price opened lower today at $305 each on NSE, but soon began to climb and hit a new 52-week high of $329.45 levels. Despite weakness and high volatility in the secondary market, NSE-listed multibagger stocks have been reaching the upper loop since May 13, 2022.

Chennai Petroleum Stock Price History

In the last week, the share price of this subsidiary of Indian Oil Corporation Limited (IOCL) rose more than 21 percent, hitting the top 5 percent circuit in all five sessions. In the past month, Chennai Petroleum’s share price has risen from $196.70 to $329.45 levels, registering close to 67.50 percent increase in this time. In the year-to-date (YTD) time, this energy stock has generated a multibagger yield of about 215 percent after rising from $103.30 am $329.45 each level. In the last six months, this multi-bag stock has increased from around $110 to $329.45 levels, registering an increase of around 200 percent in this period.

Likewise, in the last year, this multibagger stock has skyrocketed from around $123 to $329 levels, registering an increase of close to 165 percent in this period.

The current market capitalization of Chennai Petroleum Corporation Limited is $4,905 crore and its current trading volume is around 18.60 lakh while its average trading volume of the last 20 days is around 47.19 lakh. Chennai Petroleum’s share price stands at a PE multiple of 3.63, while its sector PE is 22.38. The dividend yield on this multibagger stock is 0.61, while its book value per share is just over 200.

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