Dec 10, 2012, 01.18 PM IST | Source: Moneycontrol.com

Cairn India slips 1.7% on Goldman Sachs downgrade

Shares of Cairn India, a subsidiary of Vedanta Resources, dropped 1.7 percent to Rs 327.40 on Monday as the foreign research firm Goldman Sachs has downgraded the stock to neutral with a target price of Rs 380.

Shares of Cairn India , a subsidiary of Vedanta Resources, dropped 1.7 percent to Rs 327.40 on Monday as the foreign research firm Goldman Sachs has downgraded the stock to neutral with a target price of Rs 380.

"With a medium-term oil price outlook of gradual moderation from here on, earnings profile is seen as flat to declining versus previous expectation of growth," the firm reasoned.

Market capitalisation of the company currently stands at Rs 62,529.13 crore.

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Cairn India stock price

On April 17, 2014, Cairn India closed at Rs 367.70, up Rs 5.70, or 1.57 percent. The 52-week high of the share was Rs 371.65 and the 52-week low was Rs 273.40.


The company's trailing 12-month (TTM) EPS was at Rs 37.95 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.69. The latest book value of the company is Rs 178.01 per share. At current value, the price-to-book value of the company is 2.07.

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