Buy Cairn India: Kimeng Securities

In a chat with ET Now, Jigar Shah, Senior VP and Head of Research, Kimeng Securities India Private Ltd, shares his views on Cairn India.

ET Now: What is the call on Cairn India?

Jigar Shah: On Cairn issue, Rahul Dhir's exit has a little bit of impact in terms of perception but as an oil producing asset, Cairn is in a very strong position. Also they have pretty good plans in terms of expansion of the exploration of the Rajasthan asset, Sri Lanka etc. So they are in a quite strong position. The Brent crude has again bounced. So that is also favourable. I do not really see any major fundamental concerns at the moment for Cairn and this is a passing phase for them. So I retain a buy rating on Cairn India.