Cairn India rose 2.43% to Rs 286.15 at 14:29 IST on BSE as Brent crude oil prices edged higher today, 29 October 2014.
Meanwhile, the BSE Sensex was up 141.96 points or 0.53% at 27,022.78
On BSE, so far 1.18 lakh shares were traded in the counter as against average daily volume of 1.48 lakh shares in the past one quarter.
The stock hit a high of Rs 286.95 and a low of Rs 280.50 so far during the day. The stock hit a 52-week high of Rs 385 on 10 June 2014. The stock hit a 52-week low of Rs 272.65 on 16 October 2014.
The stock had underperformed the market over the past one month till 28 October 2014, falling 10.06% compared with 0.96% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 11.18% as against Sensex's 3.42% rise.
The large-cap company has equity capital of Rs 1874.81 crore. Face value per share is Rs 10.
Brent crude oil prices edged higher as investors awaited guidance from the Federal Reserve on US monetary policy later in the day and after industry data on US inventories came in more or less as expected. Brent crude for December delivery was up 35 cents at $86.38 a barrel. The contract had gained 20 cents to settle at $86.03 a barrel during the previous trading session.
Higher crude oil prices would result in higher realizations from crude sales for oil exploration firms such as Cairn India.
Cairn India's consolidated net profit fell 32.7% to Rs 2277.88 crore on 14.4% fall in net sales to Rs 3982.05 crore in Q2 September 2014 over Q2 September 2013.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. The company sells its oil to major refineries in India and its gas to both public sector units and private buyers.
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