Meanwhile, the BSE Sensex was down 37.77 points or 0.19% at 19,949.05.
On BSE, 57,000 shares were traded in the counter as against average daily volume of 4.47 lakh shares in the past one quarter.
The stock hit a high of Rs 341.95 and a low of Rs 334.90 so far during the day. The stock had hit a 52-week low of Rs 296.10 on 4 June 2012. The stock had hit a record high of Rs 400.95 on 22 February 2012.
The stock had outperformed the market over the past one month till 15 January 2013, surging 4.91% compared with the Sensex's 3.47% rise. The scrip had, however, underperformed the market in past one quarter, rising 3.15% as against Sensex's 6.8% surge.
The large-cap company has equity capital of Rs 1909.92 crore. Face value per share is Rs 10.
US crude oil futures for February 2013 delivery were up 18 cents a barrel at $93.46 a barrel in the electronic trading today, 16 January 2013. The contract had lost 86 cents a barrel or 0.91% to settle at $93.28 on the New York Mercantile Exchange on Tuesday, 15 January 2013, the biggest drop since 21 December 2012 and the lowest closing level since 9 January 2013. Lower crude oil prices will result in lower realizations from crude sales for oil exploration firms like Cairn India.
US crude supplies gained a second week and inventories at Cushing, the delivery point for West Texas Intermediate, rose to a record, data from the American Petroleum Institute (API) showed. Total US crude stockpiles rose by 46,000 barrels last week, according to the API. Supplies at Cushing increased 1.8 million barrels, a sixth weekly gain, to a record 51.8 million. US gasoline supplies rose by 4.1 million barrels, the API said.
Meanwhile, the World Bank cut its projection for economic growth in the US, the world's biggest crude oil consumer, by 0.5% to 1.9% for 2013 in its twice-yearly report on Tuesday, 15 January 2013. It reduced its forecast for Japan, the third-biggest crude oil user, to 0.8% from 1.5%, predicted a second year of contraction in the euro region and lowered its estimates for emerging markets led by Brazil, India and Mexico. China, the second-biggest oil consumer, was cut to 8.4% from 8.6%. The World Bank projects the global economy will expand 2.4 percent this year, down from a June forecast of 3 percent.
Cairn India's consolidated net profit jumped 204.3% to Rs 2322.18 crore on 67.5% growth in net sales to Rs 4443.14 crore in Q2 September 2012 over Q2 September 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.
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