- 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  GE Shipping gains after executing delivery of a dry bulk carrier (3-Sep 15:23 Hrs IST)
4  Ratnamani Metals & Tubes advances on receiving order from L&T (3-Sep 15:00 Hrs IST)
4  Avanti Feeds jumps after board plans to consider stock split (3-Sep 14:27 Hrs IST)
4  Volumes jump at M&M Financial Services counter (3-Sep 13:57 Hrs IST)
4  Caplin Point surges after getting Brazil's ANVISA approval for sterile injectable site (3-Sep 13:41 Hrs IST)
4  Ambuja Cements gains on buzz of rating upgrade from a foreign brokerage (3-Sep 12:43 Hrs IST)
4  Jet Airways gains after board approves Jet Lite's merger with company (3-Sep 12:05 Hrs IST)
4  IRB Infra gains after executing concession agreement with NHAI for project in UP (3-Sep 11:18 Hrs IST)
4  VA Tech Wabag gains after consortium with Muhibbah wins order from Petronas (3-Sep 10:39 Hrs IST)
4  Vascon Engineers gains after raising funds through rights issue (3-Sep 09:57 Hrs IST)