Cairn India rose 1.24% to Rs 362.90 at 12:26 IST on BSE after US crude prices edged up in Asian trade on Wednesday, 16 April 2014.
Meanwhile, the BSE Sensex was down 16.99 points, or 0.08%, to 22,467.94.
On BSE, so far 73,000 shares were traded in the counter, compared with an average volume of 1.27 lakh shares in the past one quarter.
The stock hit a high of Rs 366.85 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 358.65 so far during the day. The stock hit a 52-week low of Rs 273.40 on 26 June 2013.
The stock had outperformed the market over the past one month till 15 April 2014, rising 9.48% compared with the Sensex's 3.10% rise. The scrip had also outperformed the market in past one quarter, rising 9.80% as against Sensex's 5.62% rise.
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The large-cap company has an equity capital of Rs 1910.90 crore. Face value per share is Rs 10.
US crude for May delivery was up 21 cents, or 0.20% at $103.96 per barrel in Asian trading session, after finishing 30 cents lower to settle at $103.75 on Tuesday, 15 April 2014.
Higher crude oil prices will result in higher realizations from crude sales for oil exploration firms like Cairn India.
On a consolidated basis, Cairn India's net profit declined 13.8% to Rs 2884.04 crore on 16.9% growth in net sales to Rs 4999.98 crore in Q3 December 2013 over Q3 December 2012.
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 public sector units and private buyers.
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