MUMBAI 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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The government plans to change the Reserve Bank of India Act before the end of the fiscal year so it can set up a new committee to direct the country's monetary policy, retiring Finance Secretary Rajeev Mehrishi told Reuters. Full Article