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Goldman Sachs downgrades Cairn India
Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in Rajasthan August 29, 2009.
Credit: Reuters/Parth Sanyal/Files
MUMBAI |
MUMBAI (Reuters) - Goldman Sachs has downgraded Cairn India(CAIL.NS) to 'neutral' from 'buy', citing expectations of flat to declining earnings growth, based on its medium-term outlook of gradual moderation in oil prices.
The investment bank has also removed the stock from its Asia Pacific buy list. (Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)
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