CapitalMarket.com - Cairn India among top-50 m-cap luminaries
Hot Pursuit Tuesday, January 09, 2007 16:37 Hrs IST

Print this page


Cairn India among top-50 m-cap luminaries

A disappointing debut notwithstanding, Cairn India entered the league of top 50 Indian companies in terms of market capitalisation on Day 1.

The company’s market capitalisation at the end of today’s trading was Rs 24,273.01 crore, ranking 31st in terms of market capitalisation in India.

Cairn India has a large equity base of Rs 1765.31 crore, with parent Cairn Energy holding 67.6%.

The scrip settled at Rs 137.50 on BSE, a discount of 14% over the IPO price of Rs 160. The stock remained below the IPO price on BSE throughout the day, after a debut at Rs 140. The stock hit a low of Rs 128.65 and a high of Rs 155. The company’s weak debut was on account of concerns that its dispute with MRPL can delay crude oil sales from its Rajasthan fields, which have not started production as yet.

The volumes in Cairn India were large on the first day, with 3.26 crore and 6.7 crore shares changing hands on BSE and NSE, respectively. The combined volume on the two bourses was 10 crore. It accounted for 30.4% of 32.88 crore shares offered through the IPO, or 5.6% of Cairn India’s post-issue equity.

Previous Stories
More 4
Other Stories
4  Minda Inds gains after entering into a JV agreement with Kosei Group (2-Mar 15:28 Hrs IST)
4  Private banks gain on hopes of attracting more foreign investments (2-Mar 15:12 Hrs IST)
4  Ashok Leyland hits record high after strong February sales (2-Mar 15:08 Hrs IST)
4  L&T hits record high on FM's impetus on infra sector (2-Mar 14:33 Hrs IST)
4  Cement stocks jump after govt's infra push (2-Mar 14:31 Hrs IST)
4  FTIL spurts after board opposes MCA petition to CLB (2-Mar 13:57 Hrs IST)
4  Volumes jump at TTK Prestige counter (2-Mar 13:38 Hrs IST)
4  Natco Pharma jumps after tie up with Gilead on hepatitis C drugs (2-Mar 12:52 Hrs IST)
4  RIL drops after fire in pipeline interrupts gas flow of associate company (2-Mar 12:50 Hrs IST)
4  Atul Auto gains after reporting decent sales in February (2-Mar 12:13 Hrs IST)
Next4