Bullish on Cairn India: Prakash Diwan, Asit C. Mehta Investment Intermediates Ltd.

Prakash Diwan, Head-Institutional Clients Group, Asit C. Mehta Investment Intermediates Ltd., in a chat with ET Now, gives his views on Cairn India


What are your closing thoughts and let’s nail it down to one stock, which you are pretty confident that you want to buy and you want to buy that stock for a six-month timeframe?

I definitely agree that we are at the midst of a downtrend but that’s exactly where our responsibility is to look for opportunity and keep on picking on these stocks. One of the stocks that we have identified for sometime has been Cairn. Cairn India is actually likely to ride this whole downtrend very strongly. It could probably lose a few points here and there but then at the end of the day in six months horizon, it could actually be one of the strongest marked out performers given the fact that it is in a favourable sector. It is in a favourable commanding position now that it is out of the woods from all regulatory issues and it has actually got a scalable business model that you will be very soon start seeing actually unfold.