Cairn India gained 1.96% to Rs 224 at 14:27 IST on BSE after the company said its wholly owned subsidiary Cairn Lanka will invest $133 million on oil and natural gas exploration in the Mannar Basin off the north western coast of Sri Lanka.
The company made this announcement at the fag end of the day’s trading session on Thursday, 11 September 2008, when the stock fell 2.05% to Rs 219.70
The stock hit a high of Rs 225.80 and a low of Rs 222.75 so far during the day.
The company’s current equity is Rs 1894.43. Face value per share is Rs 10.
On 7 July 2008, Cairn India signed the agreement with the government of Sri Lanka for the exploration of oil and natural gas in the Mannar basin.
Cairn India reported a net loss of Rs 46.68 crore in Q2 June 2008 against net loss of Rs Rs 7.57 crore in Q2 June 2007. Sales rose 169.4% to Rs 0.97 crore in Q2 June 2008 over Q2 June 2007.
Cairn India explores and produces crude oil and natural gas in India.
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