Cairn can give excellent returns:Avinash Gorakshekar

In a chat with ET Now, Avinash Gorakshekar, Head of Research, Anagram Capital Ltd., shares his views on the outlook of Cairn India.

What is the sense on Cairn India?

On a medium-to-long-term basis, this stock is going to give excellent returns to shareholders. From a near-term perspective, very clearly the open offer price could possibly be hiked up from the earlier level. So, to that extent, there is a near-term trigger to the stock and once in principal the shareholders of Cairn India have already given an approval. So, over the next couple of months, we will like to wait and watch on what is the final open offer price but at least from a business point of view, the company has a very excellent business model, a very competent management team in place. So, if anybody wants to look at a stock with one or two years' perspective, possibly Anil Agarwal would raise the top line as well as the profit estimate of this company quite significantly over the next two years.