Meanwhile, the BSE Sensex was up 142.98 points or 0.86% to 16,861.85.

On BSE, 14,000 shares were traded in the counter as against average daily volume of 2.32 lakh shares in the past one quarter.

The stock hit a high of Rs 331 and a low of Rs 327 so far during the day. The stock had hit a record high of Rs 400.95 on 22 February 2012. The stock had hit a 52-week low of Rs 250 on 26 August 2011.

The stock had outperformed the market over the past one month till 8 June 2012, rising 2.89% compared with the Sensex's 1.04% rise. The scrip had, however, underperformed the market in past one quarter, declining 9.18% as against Sensex's 2.49% decline.

The large-cap oil and gas exploration company has an equity capital of Rs 1907.84 crore. Face value per share is Rs 10.

Crude oil futures for July 2012 delivery were up $1.85 at $85.95 a barrel in Asian electronic trading today, 11 June 2012. The contract had lost 72 cents, or 0.84% to settle at $84.10 a barrel on the New York Mercantile Exchange on Friday, 8 June 2012. Higher crude oil prices will result in higher realization from crude sales for oil exploration firms such as Cairn India.

Spain's Finance Minister Luis de Guindos said the country is seeking European Union loans for as much as 100 billion euros ($125 billion) to help its struggling banking sector.

The latest data showed China's imports of crude climbed to a record in May 2012. China imported a net 25.3 million metric tons of crude in May 2012, or 5.98 million barrels a day, up 10% from April 2012, the customs data showed on Sunday, 10 June 2012. The previous record was 5.87 million barrels a day in February 2012. Purchases cost an average of $120 a barrel, compared with about $123 in April 2012, the data showed.

Cairn India's consolidated net profit declined 11% Rs 2186.23 crore on 0.1% decline in net sales to Rs 3651.34 crore in Q4 March 2012 over Q4 March 2011.

Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. The company's average daily gross operated production was 1,72,887 barrels of oil equivalent (boe) in financial year ended March 2012 (FY 2012). The company sells its oil to major refineries in India and its gas to both PSU and private buyers.