 "Cairn India hits 52-week low on lower crude oil prices")
Shares of oil exploration and production firm Cairn India has dipped 4% to Rs 293, its lowest level since August 2013 on BSE, as Brent crude fell to a 27-month low on signs that global production growth is outpacing demand, Bloomberg report suggests.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Lower crude oil prices will result in lower realization from crude sales for oil exploration firms such as Cairn India.
The stock opened at Rs 304 and has seen a combined 2.14 million shares changed hands on the counter so far on NSE and BSE.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Lower crude oil prices will result in lower realization from crude sales for oil exploration firms such as Cairn India.
The stock opened at Rs 304 and has seen a combined 2.14 million shares changed hands on the counter so far on NSE and BSE.