Dividend Star: Chennai Petroleum Corporation Ltd

Sep 27

CPCL has taken strong support from 872 levels.
It is trading near 20 EMA levels of 923.
Resistance levels: 1002, 1072, 1217
Support levels: 899, 797
One can accumulate for the long term for a good dividend yield.

Pros:

• The company has decreased its debt.
  
• The stock offers a commendable dividend yield of 5.98%.
  
• The company has achieved a commendable profit increase of 71.2% CAGR during the last five years.
  
• The company has a commendable history of return on equity (ROE). Three-Year Return on Equity: 53.9%