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)
Cairn India stock price
On November 27, 2015, Cairn India closed at Rs 137.15, down Rs 1, or 0.72 percent. The 52-week high of the share was Rs 274.90 and the 52-week low was Rs 121.25.
The company's trailing 12-month (TTM) EPS was at Rs 0.15 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 914.33. The latest book value of the company is Rs 197.62 per share. At current value, the price-to-book value of the company is 0.69.
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