Meanwhile, the BSE Sensex was up 431.15 points or 2.39% to 18,452.31.

On BSE, 4.50 lakh shares were traded in the counter as against average daily volume of 11.98 lakh shares in the past one quarter.

The stock hit a high of Rs 354.10 and a low of Rs 346.20 so far during the day. The stock had hit a record high of Rs 400.95 on 22 February 2012. The stock had hit a 52-week low of Rs 258.45 on 4 October 2011.

The stock had outperformed the market over the past one month till 13 September 2012, surging 3.65% compared with the Sensex's 2.2% rise. The scrip had, however, underperformed the market in past one quarter, rising 5.85% as against Sensex's 6.76% rise.

The large-cap oil exploration firm has equity capital of Rs 1908.44 crore. Face value per share is Rs 10.

US crude oil futures for October 2012 delivery were up $1.59 at $99.90 a barrel in electronic trading today, 14 September 2012. The contract had surged $1.30 or 1.34% to settle at $98.31 a barrel on the New York Mercantile Exchange on Thursday, 13 September 2012, its highest closing level since 4 May 2012. Prices are up 3.1% this week. Higher crude oil prices will result in higher realization from crude sales for oil exploration firms such as Cairn India.

The US Federal Reserve on Thursday, 13 September 2012 said, it will make open-ended purchases of $40 billion a month of mortgage debt to boost the economy. The Fed said it will continue buying assets and employ other policy tools as appropriate if the outlook for the labor market does not improve substantially.

Cairn India's consolidated net profit jumped 40.3% to Rs 3825.74 crore on 19.6% growth in net sales to Rs 4440.03 crore in Q1 June 2012 over Q1 June 2011.

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 PSU and private buyers.

Powered by Capital Market - Live News