Cairn Energy is seeking $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore.
Cairn Energy is seeking $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore, according to reports.
The total compensation sought is equal to the tax demand raised and the value of Cairn Energy's 9.8 per cent shareholding in Cairn India, as per the report.
The total compensation sought is equal to the tax demand raised and the value of Cairn Energy's 9.8 per cent shareholding in Cairn India, as per the report.
Cairn India Ltd is currently trading at Rs. 154.4, up by Rs. 4.35 or 2.9% from its previous closing of Rs. 150.05 on the BSE.
The scrip opened at Rs. 151 and has touched a high and low of Rs. 155.6 and Rs. 150.7 respectively. So far 2034531(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 28132.31 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 184.2 on 23-Jul-2015 and a 52 week low of Rs. 106.6 on 19-Jan-2016. Last one week high and low of the scrip stood at Rs. 151.8 and Rs. 144.1 respectively.
The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 25.88 % and 14.23 % respectively.
The stock is currently trading above its 100 DMA.
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