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.
Cairn India stock price
On November 27, 2015, Cairn India closed at Rs 137.15, down Rs 1, or 0.72 percent. The 52-week high of the share was Rs 274.90 and the 52-week low was Rs 121.25.
The company's trailing 12-month (TTM) EPS was at Rs 0.15 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 914.33. The latest book value of the company is Rs 197.62 per share. At current value, the price-to-book value of the company is 0.69.
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Dont see mkt going anywhere now; like Bharat Forge: Dipen