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Prices & Quotes - UK Markets - Cairn Energy (CNE)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 173.20p
Change Today:
6.00p
Market Cap:
1,021.11m
Sector:
Oil & Gas Producers

Cairn Energy provides update on Indian litigation

By Iain Gilbert

Date: Tuesday 21 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Exploration and development company Cairn Energy provided investors with an update on its proceedings against the Indian Government under the UK-India Bilateral Investment Treaty on Tuesday.
Cairn said the Arbitral Tribunal had indicated that, while it had encountered some difficulties created by the Covid-19 pandemic, it did not expect significant delays to occur and hoped to remain "reasonably within" the lead-time it had anticipated.

The FTSE 250-listed group added that although the tribunal said it was not yet able to commit to a specific date for its ruling, it expects a "release of the Award after the end of the summer".

Cairn added that it continued to have "a high level of confidence in the arbitration" and was still seeking full restitution for losses of more than $1.4bn.

Back in 2015, Cairn entered into international arbitration proceedings against the Government of India following the expropriation of its investments and retrospective taxation actions undertaken by the nation's Income Tax Department a year earlier.

As of 0840 BST, Cairn shares were up 2.15% at 133.10p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Cairn Energy Market Data

Currency UK Pounds
Price 173.20p
Change Today 6.00p
52 Week High 207.80p
52 Week Low 60.70p
Volume 1,460,605
Shares Issued 589.55m
Market Cap 1,021.11m

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 1
Neutral 1
Sell 0
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cairn Energy Dividends

No dividends found

Trades for 04-Dec-2020

Time Volume / Share Price
17:05 9,572 @ 171.57p
16:35 628,796 @ 173.20p
16:29 3 @ 172.40p
16:29 3 @ 172.40p
16:29 190 @ 172.10p

Cairn Energy Key Personnel

CEO Simon Thomson
CFO James Smith