Meanwhile, the BSE Sensex was down 65.35 points, or 0.42% to 15,662.50.

On BSE, 28,000 shares were traded in the counter as against average daily volume of 6.62 lakh shares in the past one quarter.

The stock hit a high of Rs 314.30 and a low of Rs 308.70 so far during the day. The stock had hit a 52-week low of Rs 250 on 26 August 2011. The stock had hit a record high of Rs 372 on 5 April 2011.

The large-cap stock had outperformed the market over the past one month till 28 December 2011, rising 2.93% compared with Sensex's 2.72% decline. The scrip had also outperformed the market over the past one quarter, surging 12.59% as against Sensex's 4.37% fall.

The company has an equity capital of Rs 1902.93 crore. Face value per share is Rs 10.

Lower crude oil prices will result in lower realization from crude sales for oil exploration firms like Cairn India. Crude oil futures traded near the lowest level in one week after a report showed US crude stockpiles surged, indicating fuel demand may be weakening as Europe's debt crisis threatens to slow the global economy. Crude inventories rose 9.57 million barrels last week, according to the industry-funded American Petroleum Institute (API).

Crude oil futures for February 2012 delivery rose 16 cents to $99.52 a barrel in Asian electronic trading today, 29 December 2011. The contract had lost $1.98 a barrel, or 1.95% to settle at $99.36 a barrel on the New York Mercantile Exchange on Wednesday, 28 December 2011.

On a consolidated basis, Cairn India's net profit fell 51.9% to Rs 763.03 crore on 1.3% decline in net sales to Rs 2652.20 crore in Q2 September 2011 over Q2 September 2010.

Cairn India is engaged in oil and gas exploration, production and transportation. The company sells its oil to major refineries in India and its gas to both state run and private buyers.