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Home » News » Business

Dec 10, 2012, 01.18 PM | 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.

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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.

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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 February 05, 2016, Cairn India closed at Rs 127.30, up Rs 4.70, or 3.83 percent. The 52-week high of the share was Rs 262.50 and the 52-week low was Rs 106.60.


The latest book value of the company is Rs 197.62 per share. At current value, the price-to-book value of the company was 0.64.

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