Jan 04, 2013, 03.32 PM IST | Source: Moneycontrol.com

Cairn up 4% after exploration allows in producing field

Private oil & gas producer Cairn India rallied as much as 3.7 percent amid large volumes on Friday after Oil Minister M Veerappa Moily, in his first major decision, has allowed Reliance Industries and Cairn India to explore for oil and gas within the producing fields subject to certain conditions.

Private oil & gas producer Cairn India rallied as much as 3.7 percent amid large volumes on Friday after Oil Minister M Veerappa Moily, in his first major decision, has allowed Reliance Industries and Cairn India to explore for oil and gas within the producing fields subject to certain conditions.

Oil Ministry has written to Directorate General of Hydrocarbons earlier this week on exploration.

At 15:25 hours IST, Cairn rose 2.9 percent to Rs 337.05 on the Bombay Stock Exchange. Trading volumes increased 90.52 percent to 5,79,235 equity shares as compared to its five day average of 304,027 shares.

Meanwhile, Reliance Industries was flat at around Rs 860 a share.

(With inputs from PTI)

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Cairn India stock price

On April 23, 2014, Cairn India closed at Rs 352.30, down Rs 11.9, or 3.27 percent. The 52-week high of the share was Rs 371.65 and the 52-week low was Rs 273.40.


The company's trailing 12-month (TTM) EPS was at Rs 37.95 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 9.28. The latest book value of the company is Rs 178.01 per share. At current value, the price-to-book value of the company is 1.98.

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