BNP Paribas raised explorer Cairn India to "buy" from "hold" on Friday, and raised its target price to Rs 347 from Rs 331 earlier.
"Based on the board's recent decision to protect shareholder interest, coupled with a greater potential for appreciation as a result of the correction in the stock's price we now have greater confidence regarding value retention," it said in a note. On Thursday, Cairn India closed 0.4% higher at Rs 314 while the main stock index shed 0.7%.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
