Cairn India may move to Rs 325- 340, says Baliga

Baliga told CNBC-TV18, “We took positions in Cairn India when the block deals were happening at those lower levels, again taking a cue from what had happened in Axis Bank, the day we had the block deals it has crashed quite significantly. So that was the day to pick it up and after that we have seen a very good move, we have seen about a Rs 30-40 move in Axis Bank after that.”

He further added, “Similarly in Cairn also, although it’s moved just about Rs 5-6 from those levels, we still feel that this can move another Rs 10-15 from here and in case we have the oil prices also keeping that rebound intact, I suppose we should see that levels for Cairn.”