Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessStocksCairn India 'top' pick in Asian oil E&P: Morgan Stanley

    Cairn India 'top' pick in Asian oil E&P: Morgan Stanley

    Morgan Stanley resumes coverage on Cairn India with "overweight" rating and a target price of Rs 416.

    July 10, 2012 / 15:30 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Morgan Stanley resumes coverage on Cairn India with "overweight" rating and a target price of Rs 416.


      The investment bank says Cairn also its "top pick" in the Asia exploration & production sector due to "high" production growth, increasing reserve base, "strong" free cash flow and as "key" gainer of weaker rupee.


      Morgan Stanley says a special dividend "is a possibility" considering "large" amount of cash in the balance sheet.


      Key risks include falling crude prices, geo-political risks and more potential stake sales from Cairn Energy.


      Cairn shares last up 1.1% at Rs 312.20.

      first published: Jul 10, 2012 10:42 am

      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!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347