Cairn India has target of Rs 350: Jain

Cairn India has target of Rs 350, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "Cairn India has benefited from an increase in the international crude prices. I expect crude to  continue to move up and Cairn to continue to be a beneficiary of that. The basics story in Cairn India is that of higher  volume through puts from its Rajasthan oil fields and its continued exploration successes in East Bengal and in the  Cambay Basin." He further added, "This stock gives a safety net on the downside, thanks to the impending takeover by the Vedanta  Group and the open offer thereafter. I expect Cairn India to post Rs 450 in a year