Meanwhile, the BSE Sensex was down 187.88 points, or 1.95%, to 9,459.59.

On BSE, 45 shares were traded in the counter. The stock had an average daily volume of 9.52 lakh shares in the past one quarter.

The stock hit a high of Rs 164.90 and a low of Rs 164.05 so far during the day. The stock hit a 52-week high of Rs 342.50 on 21 May 2008 and a 52-week low of Rs 88.15 on 27 October 2008.

The large-cap stock had underperformed the market over the past one month till 10 February 2009, falling 0.54% as compared to the Sensex's return of 2.56%. It had outperformed the market in the past one quarter, rising 4.87% as compared to the Sensex's decline of 8.43%.

The company's current equity is Rs 1896.67 crore. Face value per share is Rs 10.

The current price of Rs 164.05 discounts the company's Q4 December 2008 annualized EPS of Rs 0.95, by a PE multiple of 172.68.

A sharp fall in crude oil prices would result in lower realizations from crude sales for the oil exploration firm. US light, sweet crude for March 2009 delivery fell $2.01 or 5% to $37.55 a barrel on Tuesday, 10 February 2009 on the New York Mercantile Exchange (NYMEX) on a downward revision by the US government on its oil demand forecasts and doubts over the effectiveness of the US government's bank rescue plan.

As per recent reports, the company got the Rajasthan government's nod for completion of the remaining part of its 600-kilometre-plus crude oil pipeline from Barmer fields in the state to Salaya in coastal Gujarat.

Earlier on 19 January 2009, Cairn had received regulatory nod to develop three oil and gas discoveries in Kameshwari West and a new development area of 822 square kilometres in the northern appraisal area of Rajasthan blocks.

Cairn India on 22 December 2008 said it had made an oil and gas discovery near its existing field in Rajasthan. The company said the well had a flow of 500 barrels of oil per day and 0.4 million standard cubic feet of gas a day during a testing phase.

In November 2008, India's cabinet rejected an oil ministry proposal to award a deepwater block off the west coast to Cairn India, as the company had not offered the government an attractive enough share of potential production, or profit petroleum.

Cairn India reported a net profit of Rs 45.12 crore in Q4 December 2008 as compared to net loss of Rs 54.31 crore in Q4 December 2007. Total income surged 1555.1% to Rs 75.64 crore in Q4 December 2008 over Q4 December 2007.

Cairn India explores and produces crude oil and natural gas in India.