Cairn India fell 1.16% to Rs 145.15 at 12:04 IST on BSE after London-listed Cairn Energy PLC called an annual general meeting on 12 May 2016 to seek shareholder approval to sell or reduce its stake in the Indian firm through open market transactions.
Cairn Energy holds 9.82% stake in Cairn India as per the shareholding pattern as on 31 December 2015.Meanwhile, the S&P BSE Sensex was down 8.75 points or 0.04% at 24,676.67
On BSE, so far 1.32 lakh shares were traded in the counter as against average daily volume of 4.03 lakh shares in the past one quarter. The stock hit a high of Rs 145.90 and a low of Rs 141.60 so far during the day. The stock had hit a 52-week high of Rs 239.70 on 17 April 2015. The stock had hit a 52-week low of Rs 106.60 on 19 January 2016. The stock had outperformed the market over the past one month till 7 April 2016, rising 14.64% compared with 0.16% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 13.93% as against Sensex's 0.67% fall.
The large-cap oil and gas exploration and production company has equity capital of Rs 1874.86 crore. Face value per share is Rs 10.
Cairn India's consolidated net profit fell 99.4% to Rs 8.69 crore on 44.5% decline in total income to Rs 2230.19 crore in Q3 December 2015 over Q3 December 2014.
Cairn India, a part of the Vedanta group, is one of the largest independent oil and gas exploration and production companies in India.
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