Cairn India Shares Fall; HSBC Cuts to 'Underweight'
Shares in Cairn India Ltd fell 3.2 per cent on Friday
HSBC downgraded the stock to "underweight" from "neutral" and said the company's production from key oil field in Rajasthan will peak in fiscal year 2016.
Taking into account other production forecasts, HSBC said Cairn's earnings may have already peaked in fiscal year 2014.