Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Cairn India to achieve a target between Rs 250- Rs 265 in the coming days.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 225.

Shares of the company, on Monday (June 29), closed at Rs 234.20 on the Bombay Stock Exchange (BSE). The total volume of the shares traded stood at 480,655. The scrip hit an intraday high of Rs 239.65 and an intraday low of Rs 231.50.

Current EPS & P/E ratio stood at 0.33 and 709.70 respectively. The share price has seen a 52-week high of Rs 284.75 and a low of Rs 88.15 on BSE.

On June 09, Cairn India Limited, a unit of UK based oil explorer Cairn Energy Plc, said it is expecting more than 1.3 million tonne of crude oil production from the Ravva field in the Krishna Godavari basin in the existing financial year. It presently generates crude oil and natural gas from eight platforms in the Ravva field.

According to sources, in April 2009, Cairn India produced 149,000 tonne of crude oil and 49.71 million cubic feet of natural gas from the Ravva field as compared to the target of 136,000 tonne 45.53 million cubic feet respectively. It also eyes to supply the total production in 2009-10 from the Ravva field to Bongigaon Refinery and Petrochemicals at Assam.

Cairn India got listed on BSE and NSE on 9 January 2007.  The company’s IPO was the biggest IPO thus far in the Indian primary equity markets and Cairn India presently owns a market capitalization more than $6 billion, ranking as the fourth major oil and gas company in the Indian market.