Foreign institutional investors (FIIs) have decreased their holdings in Cairn India by nearly 150 basis points to 15.33% at the end of the third quarter from 16.83% in the second quarter ended September 30, 2014. On the other hand, domestic institutional investors (DIIs) have increased their stake in the company to 10.71% from 9.81% as on September 30, 2014.
Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. In Q1FY15, the company’s net profit had declined 67.63% at Rs 643.81 crore as compared to Rs 1989.12 crore for the quarter ended June 30, 2013.
