Oil major Cairn India today surged over four per cent in the early trade on the Bombay Stock Exchange, bolstered by a three-fold jump in its net profit for the second quarter ended September 30.
Cairn had yesterday reported a net profit of Rs 1,585.08 crore in the July-September period as against Rs 469.51 crore in the same period a year ago, as completion of a pipeline increased crude oil sales from its prolific Rajasthan block.
Buoyed by the smart second quarter numbers, shares of the company rose by 4.42 per cent to Rs 332.70 in the early trade.
Similarly, on the National Stock Exchange, the scrip was quoting 2.16 per cent higher at Rs 324.15.In terms of volume, over 16.12 lakh shares of the company were traded on the bourses in the morning trade.
Meanwhile, the broader gauge Sensex was trading at 19,970.48, up 29.44 points from the previous close at 1000 hrs.