Carin India to benefit from higher realisations: Abhijit Chakraborty, Fortune Financial Services India Ltd
One should be looking to add to Cairn India because it is going to benefit from higher realisations.
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| Abhijit Chakraborty, Sr. VP, Institutional Equities, Fortune Financial Services India Ltd, in a chat with ET Now talks about Cairn India.
What is your take on Cairn India? Would you be long on this stock?
As far as Cairn is concerned, yes, I feel that it is definitely linked with the fortunes of the oil prices going up and the realisations definitely would be improved because of the increased oil prices. So that is definitely one clear positive for the stock.
The company should do at least Rs 40 EPS for FY12 and the price target should be more than Rs 200. What is holding back the performance of the stock perhaps is the deal going through between Cairn and Vedanta. As we get more clarity on that, the stock is definitely going to do better.
But keeping aside this deal going through, on a fundamental basis one should be looking to add to this stock because of the fact that it is going to benefit from higher realisations.
What is your take on Cairn India? Would you be long on this stock?
As far as Cairn is concerned, yes, I feel that it is definitely linked with the fortunes of the oil prices going up and the realisations definitely would be improved because of the increased oil prices. So that is definitely one clear positive for the stock.
The company should do at least Rs 40 EPS for FY12 and the price target should be more than Rs 200. What is holding back the performance of the stock perhaps is the deal going through between Cairn and Vedanta. As we get more clarity on that, the stock is definitely going to do better.
But keeping aside this deal going through, on a fundamental basis one should be looking to add to this stock because of the fact that it is going to benefit from higher realisations.
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