Cairn India shares fall; HSBC cuts to "underweight"

HSBC says production from key oil field in Rajasthan will peak in fiscal year 2016

Shares of Cairn India Ltd fell 3.2% as HSBC downgrades the stock to "underweight" from "neutral" and says production from key oil field in Rajasthan will peak in fiscal year 2016.

Taking into account other production forecasts, HSBC says Cairn's earnings may have already peaked in fiscal year 2014.