Goldman Sachs downgrades Cairn India; removes from Asia Pacific buy list

MUMBAI Mon Dec 10, 2012 8:59am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

MUMBAI Dec 10 (Reuters) - Goldman Sachs has downgraded Cairn India 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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