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Business News/ Money / Ambit Capital recommends Cairn India
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Ambit Capital recommends Cairn India

Ambit Capital

Ambit Capital recommends Cairn India

Premium


An increased oil price deck (+ve) and higher MAT rates of 15% (-ve) necessitate a revision in our earnings estimates for Cairn India.

Commensurately our 12-month target price now stands at Rs245 (vs. Rs250). Correction in the stock price of 16% over the last month provides a good entry point.

At Rs210, our target price implies 16% upside from current levels and constitutes the basis of an upgrade in our recommendation from Hold to BUY.

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Published: 14 Jul 2009, 09:09 AM IST
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