Cairn India shares fall on weak earnings

Reuters Updated - January 24, 2018 at 03:09 PM.

Shares of Cairn India Ltd were down 1 per cent as the the company’s consolidated net profit for the quarter ended December 31 fell 53 per cent to ₹1,350 crore against ₹2,884 crore in the year-ago period.

Kotak Securities says low confidence in production growth has constrained it from taking a positive view of the stock.

It says merger with unrelated businesses is at risk.

It is concerned about the company's earlier outlook of 7-10 pct CAGR growth in production from the Rajasthan block in FY2014-17E

Published on January 23, 2015 04:31