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Cairn India gains on plan to invest up-to $750 million in KG Basin Block

06 Dec 2013 Evaluate

Cairn India is currently trading at Rs. 321.55, up by 2.65 points or 0.83% from its previous closing of Rs. 318.90 on the BSE.

The scrip opened at Rs. 318.00 and has touched a high and low of Rs. 321.80 and Rs. 318.00 respectively. So far 1,890 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 349.90 on 22-Jan-2013 and a 52 week low of Rs. 267.90 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 325.00 and Rs. 318.00 respectively. The current market cap of the company is Rs. 61,409.00 crore.

The promoters holding in the company stood at 58.76% while Institutions and Non-Institutions held 26.34% and 14.89% respectively.

Cairn India is planning to invest up-to $750 million in KG Basin Block over five years. The investment includes creation of necessary infrastructure and production.

Meanwhile, the company has urged the Director General of Hydrocarbons to declare one of the wells in its onshore KG-ONN-2003/1 block at Nagayalanka on East coast as Commercial Discovery.

Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boepd in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.

 

Peers
Company Name CMP
ONGC 279.25
Oil India 454.40
Jindal Drilling&Inds 535.85
Deep Industries 457.70
Asian Energy Service 297.85
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