- 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  PSU bank stocks gain after Lok Sabha passes Insolvency and Bankruptcy Bill (6-May 15:15 Hrs IST)
4  Syndicate Bank advances after allotting shares to Government of India at premium (6-May 15:08 Hrs IST)
4  NTPC gains after raising funds (6-May 15:01 Hrs IST)
4  J Kumar Infraprojects gains after new order win (6-May 14:24 Hrs IST)
4  NDTV gains after trimming losses in Q4 (6-May 14:21 Hrs IST)
4  Eicher Motors gains after strong Q4 results, outlook for motorcycle business (6-May 13:24 Hrs IST)
4  Volumes jump at Kansai Nerolac Paints counter (6-May 13:23 Hrs IST)
4  Hindustan Composites surges after announcing strong Q4 results (6-May 12:51 Hrs IST)
4  HIL drops after weak Q4 result (6-May 12:15 Hrs IST)
4  Indiabulls Housing Finance gains on fund raising plans (6-May 12:00 Hrs IST)