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.

Also Read
Claris Lifesciences down 8% on arm hive off news
Why Maldives took over Male Airport from GMR

Cairn India stock price

On April 23, 2014, Cairn India closed at Rs 352.30, down Rs 11.9, or 3.27 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 March 2014. The stock's price-to-earnings (P/E) ratio was 9.28. 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 1.98.

READ MORE ON  Cairn India, Goldman Sachs
Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

570.62 0.08 0.01%

100889

Bought today

49460

Sold today

0.1%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.