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CAPITAL MARKET

CAIRN INDIA LIMITED (KOTAK SECURITIES) (0)

3/11/10 •

Downgraded to SELL. We would advise investors to book profits in Cairn India stock noting potential muted stock performance led by (1) likely weakness in crude prices, (2) negative development on cess issue and (3) concerns on execution and production ramp-up from its key Rajasthan block. We have downgraded the stock to SELL, noting the stock offers potential downside of 15% to our revised 12-month…