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Shares of Cairn India Ltd were down 1 per cent as the the company’s consolidated net profit for the quarter ended December 31 fell 53 per cent to ₹1,350 crore against ₹2,884 crore in the year-ago period.
Kotak Securities says low confidence in production growth has constrained it from taking a positive view of the stock.
It says merger with unrelated businesses is at risk.
It is concerned about the company's earlier outlook of 7-10 pct CAGR growth in production from the Rajasthan block in FY2014-17E
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