Cairn India shares fall over 3 per cent post HSBC downgrade

The financial services major said that production from key oil field in Rajasthan will peak in fiscal year 2016.

Indulal PM

Updated Oct 13, 2014 4:07 PM IST

Cairn India shares fall over 3 per cent post HSBC downgrade

Cairn India Plant (Photo: Reuters)

Shares of Cairn India fell 3.2 per cent on Friday after HSBC downgraded the stock of oil and gas exploration company to "underweight" from "neutral".

The financial services major said that production from key oil field in Rajasthan will peak in fiscal year 2016.

Taking into account other production forecasts, HSBC said Cairn's earnings may have already peaked in fiscal year 2014.

Cairn discovers 3 more oil wells in Rajasthan
Cairn India gets green nod to hike Rajasthan block output

(Reuters)

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Published on: Oct 10, 2014 11:50 AM IST

Cairn India shares fall over 3 per cent post HSBC downgrade

The financial services major said that production from key oil field in Rajasthan will peak in fiscal year 2016.

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