Cairn India Shares Gain on Crude Oil Discovery: Mumbai Mover
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Cairn India Ltd., which extracts crude from the nation’s biggest deposit on land, rose the most in a week in Mumbai after saying it found oil in a new well.
The shares climbed as much as 3.7 percent to 296 rupees, poised for the biggest gain since April 1, and traded at 293 rupees as of 11:05 a.m. in Mumbai. The stock has fallen 7.2 percent this year, compared with a 4.6 percent drop in the Nifty Index.