Cairn India rose 2.1% to Rs 271.95 at 14:50 IST on BSE as crude oil prices gained.
Meanwhile, the S&P BSE Sensex was up 246.87 points or 0.88% at 28,314.43.
On BSE, so far 2.49 lakh shares were traded in the counter as against average daily volume of 1.72 lakh shares in the past one quarter.
The stock hit a high of Rs 273.60 and a low of Rs 266 so far during the day. The stock had hit a 52-week high of Rs 385 on 11 June 2014. The stock had hit a 52-week low of Rs 258.30 on 14 November 2014.
The stock had underperformed the market over the past one month till 20 November 2014, falling 3.67% compared with the Sensex's 6.2% rise. The scrip had also underperformed the market in past one quarter, declining 17.55% as against Sensex's 6.66% rise.
The large-cap firm has an equity capital of Rs 1874.83 crore. Face value per share is Rs 10.
Brent crude oil futures rose on speculation the OPEC cartel will overcome internal resistance to trim output at a meeting next week, while upbeat US economic data also provided support. Brent crude for January settlement was up 12 cents at $79.45 a barrel. The contract had jumped $1.23 to finish at $79.33 a barrel yesterday, 20 November 2014.
Gains in crude oil prices would result in higher realizations from crude sales for oil exploration firms such as Cairn India.
Cairn India's consolidated net profit fell 32.7% to Rs 2277.88 crore on 12% decline in total income to Rs 4568.33 crore in Q2 September 2014 over Q2 September 2013.
Cairn India is one of the largest independent oil and gas exploration and production companies.
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