Hold Cairn India, says Phani Sekhar

Hold Cairn India, says Phani Sekhar, Angel Broking.

Sekhar told CNBC-TV18, "Cairn India is a clear hold because from the last time that we spoke as crude has corrected so has Cairn. At least one thing has come back to the fore which is Cairn stock price sensitive to crude because it is the only way the investors can actually play on crude."
He further added, "Positives have happened in Cairn India especially in the last three months especially with the resolution of the uncertainty on the long term impose of Cess or Vedanta deal. I think now the entire focus of both the management and the investors has come back to where it should and that is on how to increase the long term production rates for Cairn India and there is a good possibility of doing that looking at the profile of gas, their oil fields."