Vedanta picking assets of Cairn Energy is possible: Deepesh Pandey

Deepesh Pandey, Co-Head, Investments, IIFL Capital in an interview with ET Now talks about the possibility of Vedanta picking assets of Carin Energy PLC.

A news came in a little while back about Vedanta looking at picking up assets of Cairn Energy PLC overseas which is a majority holder in Cairn India. What would you make of a move like this if it were to happen?

Vedanta Group has raised lot of capital over last few years. Across their companies, they are sitting on lot of cash. They want to diversify into some areas especially in ferrous metals and possibly into crude oil exploration etc. and this move could be a part of that strategy but this is just an intent which has come up yesterday.

The group is fairly ambitious, aggressive and since you are sitting on lot of capital, this is a move which could possibly happen. So we will have to wait and watch what they do right now. It is just expression of intent which has appeared so. It is still too early to speculate what they would intend to do but they definitely have the capital and the ambition to do this.