Feb 22, 2012, 06.08 PM IST
CNBC-TV18 learns that Cairn India is currently evaluating opportunities in Uganda, where the government is likely to put on offer oil blocks next month.
Sitting on cash of over USD 1.5 billion, Cairn India is looking at inorganic growth and is keen to have an overseas presence. In fact, the company is going to open an office in London for M&As and international business.
While Cairn India's immediate focus remains ramping up Rajasthan production to 240,000 bbl, it is looking at mergers and acquisitions as well as organic growth overseas to maintain its reserve replacement ratio and to sustain its annual cash generation of USD 2-2.5 billion.
Cairn India though has ruled out shale gas and natural gas assets for now.
Cairn India stock price
On December 06, 2013, Cairn India closed at Rs 324.75, up Rs 5.85, or 1.83 percent. The 52-week high of the share was Rs 349.90 and the 52-week low was Rs 267.90.
The company's trailing 12-month (TTM) EPS was at Rs 99.60 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 3.26. The latest book value of the company is Rs 178.04 per share. At current value, the price-to-book value of the company is 1.82.
Tags: Cairn India , opportunities in Uganda, oil blocks , Rajasthan production , reserve replacement ratio , shale gas , natural gas
Action in Cairn India
Video of the day
Dec 6 2013, 15:02
- in MARKET OUTLOOK
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.