CPCL to to set up retail fuel outlets with ₹400 Crore Investment

The setting up of retail outlets for the sale of petrol and diesel has been initiated by Chennai Petroleum Corporation Limited (CPCL), marking its re-entry into the direct fuel retail segment nearly two decades after its earlier exit. Approval for this initiative has been granted by the Ministry of Petroleum and Natural Gas.

An initial capital expenditure of approximately ₹400 crore has been earmarked for this project over the next two to three years. The first phase of retail outlets is expected to be launched during CPCL's Diamond Jubilee year, with site selection being carried out based on market potential and strategic location analysis.

The rollout is being approached cautiously, with further expansion into other states planned based on market response and prevailing conditions. The initiative is aimed at addressing existing market demand and expanding CPCL's presence in the fuel retail segment.

This move is considered part of CPCL's broader strategy to diversify its business portfolio and build sustainable value over time.

Shares of Chennai Petroleum Corporation Limited was last trading in BSE at Rs. 652.65 as compared to the previous close of Rs. 658.25. The total number of shares traded during the day was 28290 in over 1258 trades.

The stock hit an intraday high of Rs. 664.85 and intraday low of 650.70. The net turnover during the day was Rs. 18611667.00.

Source : Equity Bulls

Keywords

ChennaiPetroleumCorporation INE178A01016 CPCL Reentry RetailOutlets