Prefer Cairn India: Neeraj Deewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "Cairn India has been pretty underperforming because of the crude prices. The stock has some value somewhere; there is cash on the books. Then the crude prices at some level have seen some resistance now and they are not going below a certain level now. So, USD 46 per barrel on Brent is sort of become the base and there is expectation that somewhere down the line, in the next couple of quarters we are going to see a level of USD 55-60 per barrel." "Seeing that crude has made a base and there is value in the company, there is cash in the company, so at these levels Cairn for long-term investors really makes sense because if you are looking one or two years down the line, crude has also bounced back from these lower levels, there is cash in the books. So again you would look at stock which is giving you decent return over 1-1.5 years," he said.