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Cairn India gains despite reporting 8% fall in oil and gas production in Q4 FY16

12 Apr 2016 Evaluate

Cairn India is currently trading at Rs. 152.60, up by 1.05 points or 0.69% from its previous closing of Rs. 151.55 on the BSE.

The scrip opened at Rs. 152.80 and has touched a high and low of Rs. 154.70 and Rs. 150.50 respectively. So far 117260 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 239.70 on 17-Apr-2015 and a 52 week low of Rs. 106.60 on 19-Jan-2016.

Last one week high and low of the scrip stood at Rs. 154.70 and Rs. 141.60 respectively. The current market cap of the company is Rs. 28601.03 crore.

The promoters holding in the company stood at 59.88% while Institutions and Non-Institutions held 26.00% and 14.12% respectively.

Cairn India has reported an 8% fall in oil and gas production for the fourth quarter of fiscal 2015-16 at 17.93 million barrels of oil equivalent as compared to 19.4 barrels of oil equivalent in the same quarter last year. The company’s production for the full 2015-16 fiscal also fell 4% to 74.56 million barrels of oil equivalent as compared to 77.26 million barrels of oil equivalent in the previous fiscal.

Gross production from Rajasthan declined by 4% compared to the fourth quarter of fiscal 2014-15, mainly due to the natural decline and under-performance of the Bhagyam reservoir. Bhagyam is one of Cairn’s largest discoveries in Rajasthan. The Mangala reservoir is its largest discovery in the State. The company’s average gross production on a daily basis was 9% during the fourth quarter at 197,039 barrels of oil equivalent per day. Average daily gross production from Rajasthan was 4 per cent lower at 167,650 barrels of oil equivalent per day.

Cairn India is one of the largest independent oil and gas exploration and production companies in India with a market capitalisation of $10 billion.

 

Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
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