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Macquaire bearish on Cairn India

January 18, 2007

Macquaire in its latest research report is bearish on the prospects of Cairn India and has set a 12 month stock price target of Rs 130, a potnetial for Cairn India to slide 10% from current levels of Rs 145. Macquaire has arrived at Rs 130 based on the sum of parts valuation model.

Cairn India recently completed its IPO at a price of Rs 160 / share. We had asked the readers of DalaStreet.Biz not to subscribe to Cairn India IPO. It is a good BUY around Rs 100 but only for the long term investor.

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