Cairn India is currently trading at Rs. 311.75, down by 10.90 points or 3.38% from its previous closing of Rs. 322.65 on the BSE.
The scrip opened at Rs. 322.00 and has touched a high and low of Rs. 323.25 and Rs. 311.10 respectively. So far 491159 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 385.00 on 10-Jun-2014 and a 52 week low of Rs. 286.85 on 01-Aug-2013.
Last one week high and low of the scrip stood at Rs. 349.90 and Rs. 311.10 respectively. The current market cap of the company is Rs. 58540.53 crore.
The promoters holding in the company stood at 59.90% while Institutions and Non-Institutions held 26.63% and 13.47% respectively.
Cairn India has extended a loan of $1.25 billion (around Rs 7,500 crore) to its parent company -- Vedanta -- for a two-year period as a part of the former’s treasury operations. The company had already given Vedanta $800 million of the total loan committed while the balance would be disbursed in the coming quarters
According to the loan agreement, Cairn India will get interest of 300 basis points above the benchmark London Interbank Offered Rate. The interest rate is broadly in line with the CDS rate for its parent. This also means that the company has loaned out a substantial part of its USD-denominated deposits.
Meanwhile, the company’s net profit has declined 67.63% at Rs 643.81 crore as compared to Rs 1989.12 crore for the quarter ended June 30, 2013. Its total income has decreased by 4.64% to Rs 2764.82 crore for the quarter under review from Rs 2899.55 crore for the corresponding quarter of the previous year.
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