Investors switching to Cairn India from Gail

Investors are looking to switch to oil explorer Cairn India from gas utility company GAIL (India) Ltd due to the difference in valuation and rising conflict in Iraq, dealers say.

GAIL is currently trading at 11 times of its FY16 earnings while Cairn India is trading at seven times, Thomson Reuters data shows.

"One can make a switch to Cairn as short-term firmness in crude oil prices and depreciating rupee are sentimental booster for the stock," said G. Chokkalingam, founder of Equinomics, a research and fund advisory firm.

Cairn is up 1.2 percent, while Gail is down 1 percent.

EDITORIAL OF THE DAY

  • While net neutrality is a noble concept, internet for all is a necessity

    The Telecom Regulatory Authority of India’s directive that no service provider should offer or charge discriminatory tariffs for data services on th

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Tablets, memory cards for educatioNext

The Commonwealth he­ads of government mee­ting held in Malta last ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture