Meanwhile, the BSE Sensex was down 8.67 points, or 0.05%, to 17,421.31

On BSE, 6.92 lakh shares were traded in the counter as against an average daily volume of 11.95 lakh shares in the past one quarter.

The stock hit a high of Rs 314.10 and a low of Rs 310.30 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 underperformed the market over the past one month until 29 June 2012, falling 8.51% compared with the Sensex's 6.03% rise. The scrip had also underperformed the market in past one quarter, falling 8.21% as against 2.18% rise in the Sensex.

The large-cap company has an equity capital of Rs 1907.85 crore. Face value per share is Rs 10.

Shares of Cairn India dropped 6.11% to Rs 307.50 on high volume on Friday, 29 June 2012 after Cairn Energy through Cairn UK Holdings sold 6.67 crore shares of Cairn India, translating to about 3.5% of the company, through block deal for over Rs 2000 crore.

Cairn UK Holdings sold 3.33 crore shares of Cairn India at an average price of Rs 308.74 per share on BSE on Friday, 29 June 2012. Cairn UK Holdings also sold 3.33 shares of Cairn India at an average price of Rs 308.72 per share on NSE on the same day.

Last year, the UK-based energy giant Cairn Energy sold controlling stake in Cairn India to London-listed miner Vedanta Resources in an $8.7 billion deal, but still retained 21.79% shareholding in the Indian company, as of 31 March 2012.

Cairn India's consolidated net profit fell 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.