Wednesday, May 7, 2008

Cairn India strikes all time high

Meanwhile, the BSE Sensex was down 29.80 points, or 0.17%, to 17,344.43

On BSE, 68.73 lakh shares were traded in the counter. The scrip had an average daily volume of 13.74 lakh shares in the past one quarter.

The stock hit a high of Rs 283.50, which is also its all time high on BSE. The stock touched a low of Rs 261 so far during the day. The stock had hit a 52-week low of Rs 128 on 9 May 2007.

The large-cap scrip had outperformed the market over the past one month till 6 May 2008, gaining 14.65% compared to the Sensex`s return of 10.26%. It also outperformed the market in the past one quarter, advancing 23.79% compared to Sensex`s decline of 4.23%.

The company`s current equity is Rs 1892.19 crore. Face value per share is Rs 10.

On 6 May 2008, Cairn India rose 1.67% to Rs 260.75 after Goldman Sachs Group Inc. raised the stock`s price estimate by 14% to Rs 325 per share.

Cairn India reported higher net loss of Rs 24.31 crore in Q1 March 2008 as compared to net loss of Rs 8.54 crore in Q1 March 2007. Total income rose 79.80% to Rs 22.66 crore in Q1 March 2008 over Q1 March 2007.

Cairn India`s principal activity is to explore, develop and produce crude oil and natural gas.

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