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Cairn India: Not much of an upside
Nov 02:
Cairn reported a higher than expected Q2 PAT at a crude price realization of $ 42/bl (USD 38/bl expected).
8The company's realized crude price was at 9% discount to Brent (18% in Q1) as high heavy distillate (FO/ LSWR) cracks supported the price of heavier crude grades
8The EPS for 2016-17 is likely to go up by 48% to factor in lower pricing discount of 12% in FY17 vs. 15% earlier, lower tax rate of around 8% in FY17 vs. 20% earlier (as guided by
management).
8But the upsides such as long term crude price at $ 60/bl and peak volume at 200 kbpd from its Rajasthan project are already factored in.
8The stock price is unlikely to move much, according to analysts
Click on Reports for more
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8The company's realized crude price was at 9% discount to Brent (18% in Q1) as high heavy distillate (FO/ LSWR) cracks supported the price of heavier crude grades
8The EPS for 2016-17 is likely to go up by 48% to factor in lower pricing discount of 12% in FY17 vs. 15% earlier, lower tax rate of around 8% in FY17 vs. 20% earlier (as guided by
management).
8But the upsides such as long term crude price at $ 60/bl and peak volume at 200 kbpd from its Rajasthan project are already factored in.
8The stock price is unlikely to move much, according to analysts
Click on Reports for more
