Meanwhile, the BSE Sensex was up 195.71 points, or 1.10%, to 17,923.20.

On BSE, 23,115 shares were traded in the counter as against an average daily volume of 50.26 lakh shares in the past one quarter.

The stock hit a high of Rs 307.90 and a low of Rs 304.30 so far during the day. The stock had hit a record high of Rs 372 on 5 April 2011 and a 52-week low of Rs 285 on 26 November 2010.

The large-cap stock had underperformed the market over the past one month till 23 June 2011, declining 7.30% compared with the Sensex's 1.48% fall. The scrip had also underperformed the market in past one quarter, falling 12.44% as against 2.63% decline in the Sensex.

The company has an equity capital of Rs 1902.21 crore. Face value per share is Rs 10.

Lower crude oil prices will result in lower realizations from crude sales for oil exploration firms such as Cairn India. Light, sweet crude oil tanked $4.39 a barrel or 4.6% to $91.02 a barrel on the New York Mercantile Exchange on Thursday, 23 June 2011 after the US and other members of the International Energy Agency (IEA) unexpectedly said they would release 60 million barrels of oil onto world energy markets to counter production lost from Libya. Prices also fell following mixed economic data from US and China and strong dollar.

Oil recovered in Asian electronic trade on Friday, 24 June 2011. It was up $1.26 a barrel or 1.38% to $92.28 per barrel.

On consolidated basis, Cairn India's net profit galloped 902.4% to Rs 2457.79 crore on 427.5% surge in net sales to Rs 3654.47 crore in Q4 March 2011 over Q4 March 2010.