Meanwhile, the S&P BSE Sensex was up 209.56 points or1.14% at 18,567.36.
On BSE, 66,000 shares were traded in the counter as against average daily volume of 2.86 lakh shares in the past one quarter.
The stock hit a high of Rs 288.15 and a low of Rs 285.10 so far during the day. The stock had hit a 52-week low of Rs 267.90 on 28 March 2013. The stock had hit a 52-week high of Rs 365.90 on 17 September 2012.
The stock had outperformed the market over the past one month till 15 April 2013, sliding 1.04% compared with the Sensex's 5.51% fall. The scrip had, however, underperformed the market in past one quarter, sliding 14.8% as against Sensex's 8.15% fall.
The large-cap company has equity capital of Rs 1910.24 crore. Face value per share is Rs 10.
US crude oil futures for May 2013 delivery were down $1.06 a barrel at $87.65 a barrel in the electronic trading today, 16 April 2013. The contract had tumbled $2.58 a barrel or 2.82% to settle at $88.71 a barrel on the New York Mercantile Exchange on Monday, 15 April 2013, its lowest closing level since 24 December 2012. Lower crude oil prices will result in lower realizations from crude sales for oil exploration firms like Cairn India.
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Manufacturing in the New York region expanded less than projected in April as orders cooled and sales stagnated, reports showed on Monday, 15 April 2013. The Federal Reserve Bank of New York's general economic index dropped to 3.1 this month from 9.2 in March. Readings exceeding zero signal expansion in New York, northern New Jersey and southern Connecticut.
US retail sales slid 0.4% in March 2013, the biggest decline since June 2012, Commerce Department figures showed on Friday, 12 April 2013. United States is the world's biggest crude oil consumer.
Chinese economic data came in weaker than expected, as the nation reported first quarter gross domestic product, March industrial output and other statistics on Monday, 15 April 2013. GDP for the January-March quarter rose 7.7% from a year earlier, weakening from 7.9% growth in the fourth quarter. Industrial production for March increased 8.9% from the year-earlier period, the weakest in more than a year and slowing from a 9.9% average rise for the January-February period, which China's statistics bureau reports in one figure due to seasonal distortions from the Lunar New Year holiday. March retail sales rose 12.6%, improving from 12.3% year-on-year growth in the January-February 2013 period, but far less than the 15.2% gain in December 2012.
Cairn India last week said its average daily gross operated production rose 12% at 2.02 lakh barrels of oil equivalent in Q4 March 2013 over Q4 March 2012. Cairn India said that the company's working interest production rose 18% to 1.26 lakh barrels of oil equivalent per day (boepd) in Q4 March 2013 over Q4 March 2012. The increase was driven by ramp-up at the Rajasthan block, where gross production was 22% higher at 168,594 bopd in Q4 March 2013 over Q4 March 2012, Cairn India said.
Cairn India's consolidated net profit jumped 47.9% to Rs 3344.89 crore on 38.1% growth in net sales to Rs 4277.61 crore in Q3 December 2012 over Q3 December 2011. The company unveils FY 2013 results on 22 April 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 PSU and private buyers
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