Cairn India is currently on the go. The stock, which closed yesterday at Rs.317.15, opened today higher at Rs.331 and zoomed up almost 5% at Rs.329. It is currently up around 3%, with volumes up almost 2.5 times.

The stock zoomed up after the company stated that its Board will meet on 26^th Nov 2013 to consider the proposal for buy back of equity shares of the company. As at 30^th Sept 2013, promoters held 58.76% stake, FIIs held 15.14% and DIIs held 11.20%.

The company as at 30^th Sept 2013, clocked in a group production at 213,299 boepd, which is very much on track to meet year-end target of over 225,000 boepd from all producing assets. Its Rajasthan block completed four years of oil production, crossing the 180 mmboe from Thar’s oil fields. In H1FY14, the company reported a NPM of 74.7% v/s 69.2% (YoY), with net profit coming in at Rs.6512 crore, up 6%. Its current cash flow from operations is at Rs.2,856 crore. Its net Cash in hand is at US$ 3.2 billion. Cash earnings for the first half of FY14 stood at Rs.29.50.