Cairn India up 1%; may get extension for Rajasthan block

Government may reportedly provide a 10-year extension to Cairn India for its Rajasthan oil exploration contract if the Vedanta group company agrees to increase the Centre’s royalty.

Cairn India stock was up by 1% at Rs. 137. Report says that the Government may provide a 10-year extension to Cairn India for its Rajasthan oil exploration contract if the Vedanta group company agrees to increase the Centre’s royalty. The contract is set to expire in 2020.

The scrip opened at Rs. 138.65 and has touched a high and low of Rs. 138.65 and Rs. 137 respectively. So far 399491(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 25666.87 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 277.8 on 24-Nov-2014 and a 52 week low of Rs. 121.25 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 139.8 and Rs. 129.4 respectively.

The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 23.43 % and 16.69 % respectively.

The stock is currently trading above its 200 DMA.