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    HomeNewsBusinessStocksHold Cairn India; target of Rs 325: Religare

    Hold Cairn India; target of Rs 325: Religare

    Religare Capital has recommended hold rating on Cairn India with a target price of Rs 325, in its research report dated October 21, 2014.

    November 04, 2014 / 16:53 IST
       
       
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      Religare's report on Cairn India

      "CAIR’s Q2 adj. PAT at Rs 22.7bn (-16% QoQ) came in line with estimates. Highlights: (a) MBA avg. gross production/realisation at 163kbpd/US$ 91.5/bbl. (b) Target to achieve ~50% recoverability from MBA. (c) capex program on track with 11 new discoveries (3 in Q2) establishing 1.4bnboe of prospective resources. (d) Mangla EOR/ASP pilot on track. (e) O/C approval secured for ramping up Aishwarya to 30kbpoed. (f) Gas production to double by FY15-end. HOLD with a Dec’15 TP of Rs 325 (Rs 380 earlier)", says Religare Capital research report.

      For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Nov 4, 2014 04:53 pm

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