Cairn India to gain by Vedanta deal

Siddharth Sedani, Sr Manager ( Portfolio Management Services), Microsec Capital Ltd, in a chat with ET Now talks about Cairn India.

ET Now: What is the call on Cairn India?

Siddharth Sedani: Cairn India has definitely been benefitted by this deal because Vedanta has clinched this deal at little bit of overstretched valuations and they are also not in the same field. So the diversification is also in a different zone only but if you see. The crude quality is inferior for Cairn and where Vedanta has to give extra efforts to refine it much better vis-à-vis to what Reliance Industries and other players have their crude quality. So looking at these variations, the open offer prices are also stretching to 400-405 levels. So it would be expensive for Vedanta altogether and Cairn India would definitely be beneficiary out of this deal.