Cairn India rises on Lanka arm's investment plan

DALAL STREET SPIKES

Cairn India surged by 0.89 per cent to Rs 221.65 on Friday on the Bombay Stock Exchange (BSE) after the company said its wholly-owned subsidiary, Cairn Lanka, would invest $133 million in oil and natural gas exploration in the Mannar basin off the north-western coast of Sri Lanka.

The company made the announcement at the end of yesterday’s trading session. The scrip soared to a high of Rs 225.8 and hit a low of Rs 219.1 in the intraday trading. A total of 4.21 lakh shares changed hands on BSE.