Thursday, 4 July 2013

Cairn India surges on inking MoUs with National Geophysical Research Institute and GVK-EMRI

Cairn India is currently trading at Rs. 293.45, up by 3.30 points or 1.14% from its previous closing of Rs. 290.15 on the BSE.

The scrip opened at Rs. 294.00 and has touched a high and low of Rs. 294.00 and Rs. 291.85 respectively. So far 8,394 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 365.90 on 17-Sep-2012 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. 300.00 and Rs. 276.35 respectively. The current market cap of the company is Rs. 56,057 crore.

The promoters holding in the company stood at 58.77% while Institutions and Non-Institutions held 25.69% and 15.54% respectively.

Cairn India has inked two separate memorandum of understanding (MoU), one with National Geophysical Research Institute and other with GVK-EMRI. This collaboration will help to ensure efficient management of various crucial elements in the operating sites of the company. It will also enable the company to leverage their capabilities and strengths for developing world class business further.

Cairn India is one of the largest independent oil and gas exploration and production companies in India. The company and its JV partners account for more than 20 percent of India’s domestic crude oil production.

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