Buy Cairn India for Rs 360 short-term target: Ashish Maheshwari

In a chat with ET Now, Ashish Maheshwari, director, Globe Capital Market Ltd., shares his view on the outlook of Cairn India Ltd.

What do you make of what is happening with Cairn and what would you do with the stock at current point of time?

First of all, with the CEO visit to India the uncertainty is gradually getting over, which is being appreciated by the market. You have seen some run up in the stock too. There is also good voice that maybe the investors who are still there in the company might also get Rs 405. So, if these things will come up, the future looks promising for Cairn India shareholders. Besides this, as the crude prices are going up, fundamentally also the company is all set to come out with good numbers. So, let us not look at the company just as a takeover candidate but also as the business model is also quite robust and the company has proven it over a period of time. So from all angles, it is a good buy and I expect a price target of Rs 360 in the very short term.