Hold Cairn India, says Devang Mehta

Hold Cairn India, says Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services.

Mehta told CNBC-TV18, "Cairn India is in a sweet spot, as the crude is riding and Cairn India is directly proportional to the crude prices. Normally Cairn India moves up when crude moves up. There is a buzz in the market that the Cairn-Vedanta deal would soon be given a nod. So for all these factors a medium term investor could be well in and hold Cairn India at current levels."
 
He further added, "One can make 10-15% decent returns from here though we are not fundamentally that bullish on Cairn India. But what I feel is because of the news flow currently and of the crude situation one may hold it for a 10-15% gain from hereon."