Cairn India rallying on Vedanta stake sale speculations: Ashish Kapur
The rally has more to do with the speculation on the possible stake acquisition by the Vedanta Group, so really speaking it is just a momentum.
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| ET Now spoke to Ashish Kapur, CEO, Invest Shoppe India Ltd on his views on Cairn India.
ET Now: What's the reading on a stock like Cairn India right now?
Ashish Kapur: Clearly it is going up because of a possible takeover or a stake by the Vedanta Group, otherwise fundamentally we were bullish on this stock but it has reached our targets, so there is nothing much which can take it higher at least in the near term.
The rally has more to do with the speculation on the possible stake acquisition by the Vedanta Group, so really speaking it is just a momentum and the speculation, which is now taking it higher.
ET Now: What's the reading on a stock like Cairn India right now?
Ashish Kapur: Clearly it is going up because of a possible takeover or a stake by the Vedanta Group, otherwise fundamentally we were bullish on this stock but it has reached our targets, so there is nothing much which can take it higher at least in the near term.
The rally has more to do with the speculation on the possible stake acquisition by the Vedanta Group, so really speaking it is just a momentum and the speculation, which is now taking it higher.
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