Cairn India Stocks will be in focus in today's market trading session. The company's board has approved the buyback of shares up to Rs 5725 crore in a discussion held yesterday. Company will buy back it's shares up to the rate of Rs 335 per share. Cairn India's buyback will begin in January 2014. Cairn India's board has approved the buy back of 8.9 percent shares. Company has around the cash of Rs. 300 Crore.After the buyback of shares Vedanta Group's stake will increase to 64.53 percent from 58.76 percent. According to Market Experts the market may dislike the buyback plan of the Company. The script may move down today. Although if the crude oil prices show the corrections in the prices the script may not move down. Market may open flat today while Nifty is expected to trade volatile during the day ahead of it's expiry.
Intraday Tips For Trading: Sell Cairn India from CMP of Rs. 323 for the intraday target of Rs. 312 with stop loss at around 326.
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