Cairn India surges despite reporting 4.34% fall in oil


Cairn India is at present trading at Rs. 227.05, up by 3.85 points or 1.72% from its last closing of Rs. 223.20 on the BSE.

The scrip opened at Rs. 223.20 and has touched a towering and small of Rs. 229.70 and Rs. 223.20 respectively. So far 121372 shares were traded on the counter.

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The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 231.60 on 06-Oct-2016 and a 52 week low of Rs. 106.60 on 19-Jan-2016.

Last one week high and low of the scrip stood at Rs. 231.60 and Rs. 201.00 respectively. The current market cap of the company is Rs. 42869.26 crore.

The promoters holding in the company stood at 59.86%, while institutions and non-institutions held 26.18% and 13.96% respectively.

Cairn India has reported a 4.34% fall in oil and gas production (Gross operated) for the second quarter of fiscal 2016-17 at 18.07 million barrels of oil equivalent as compared to 18.89 barrels of oil equivalent in the same quarter last year. The company’s production for the H1FY17 also declined 5.27% to 35.98 million barrels of oil equivalent as compared to 37.98 million barrels of oil equivalent in the previous fiscal.

Gross production from Development Area DA1 and DA2 averaged at 151,880 boepd and 15,820 boepd, respectively.

Gas production from RDG field also increased to 33 mmscfd in Q2 FY16 from 28 mmscfd in Q1 FY17, aided by superior initial well productivity results obtained from the hydro-frac campaign.

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