Cairn India looks good at current levels: Bhat

Cairn India is looking good at current levels and it may see further upside, says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Bhat told CNBC-TV18, “On a fundamental basis I would still say that Cairn India looks pretty good. The cash flows will still be ahead of the capex that they are talking about over next couple of years. So, that is really not going to be a worry. We are really going to see a good growth in the bottom-line in the next couple of years.”
He further added, “The falling oil prices will impact them, but by and large the volumes will be really going northwards, but all said and done the very fact that the MD has resigned speaks a lot about the kind of perception the people have about the current management. So, somewhere or the other this will casts its shadow on the stock and may possibly cap any reasonable upside for the stock.”