Moneycontrol
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.

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.

"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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