Cairn India slips on reporting 10% fall in oil and gas production in Q3FY17

17 Jan 2017

Cairn India is currently trading at Rs. 263.80, down by 4.50 points or 1.68% from its previous closing of Rs. 268.30 on the BSE.

The scrip opened at Rs. 269.00 and has touched a high and low of Rs. 269.00 and Rs. 263.00 respectively. So far 25,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.20 on 13-Dec-2016 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. 269.00 and Rs. 259.50 respectively. The current market cap of the company is Rs. 49,485.00 crore.

The promoters holding in the company stood at 59.85%, while Institutions and Non-Institutions held 26.73% and 13.42% respectively.

Cairn India has reported a 10.29% fall in oil and gas production (Gross operated) for the third quarter of fiscal 2016-17 at 16.73 million barrels of oil equivalent as compared to 18.65 million barrels of oil equivalent in the same quarter last year. The company’s production for the 9M FY17 also declined 6.91% to 52.71 million barrels of oil equivalent as compared to 56.62 million barrels of oil equivalent in the previous fiscal.

For Q3 FY17, average gross production across assets was resilient at 181,818 barrels of oil equivalent per day (boepd). As expected, the production was lower primarily due to planned maintenance shutdown in Rajasthan and natural decline in offshore assets.

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


Related Cairn India Ltd. (Amalgamated) Links:

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