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

Last Updated: Mon, Dec 10, 2012 03:49 hrs
A Cairn India employee works at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of Rajasthan

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.

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