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LON250:CNE, Dec 14, 11:04 UTC

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Tuesday, December 11


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Cairn Energy PLC (LON:CNE) Has Just Had Its TP Lowered by Professional Analysts at UBS to GBX 280.00

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In analysts report shared with investors and clients by UBS on Tuesday, 11 December, the firm, Cairn Energy PLC (LON:CNE), had their target cut to GBX 280.00. Analusts right now have a solid “Buy” rating on the stock. Cairn Energy PLC has GBX 350 highest and GBX 190 lowest target. Another recent and important Cairn Energy PLC (LON:CNE) news was published by Valuewalk.com which published an article titled: “Vedanta Resources: Corporate Structure Cloaks Valuation – ValueWalk” on July 19, 2013.

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Cairn Energy PLC (LON250:CNE) social chatter is higher than usual

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#CNE: Cairn Energy PLC's price is -11.0% but the forecast earnings moved 0.0% over the last week. (https://t.co/FfowoWViJQ)

Tuesday, November 27


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Norway Revokes Cairn, Kosmos Investment Exclusions - OE Digital

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Subscribe to this RSS feed. Norway Revokes Cairn, Kosmos Investment Exclusions. OE Staff Tuesday, 27 November 2018 10:14. Norway's sovereign wealth fund, the world's largest, will no longer exclude Cairn Energy Plc and Kosmos Energy Ltd from its portfolio of investments, the Norwegian central bank said on Tuesday. The companies made it clear they had discontinued their business in the area and the exclusion was revoked, the central bank, which manages the fund, said in a statement. It owns shares in 9,100 companies, 1.4 percent of the world’s listed equity, so its decisions to drop or reinstate firms from its investments carry considerable weight among investors.

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REFILE-Norway wealth fund ends its exclusion of Cairn, Kosmos

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REFILE-Norway wealth fund ends its exclusion of Cairn, Kosmos. Nov 27 (Reuters) - Norway's sovereign wealth fund, the world's largest, will no longer exclude Cairn Energy Plc and Kosmos Energy Ltd from its portfolio of investments, the Norwegian central bank said on Tuesday. The companies were excluded in 2016 based on advice from the fund's ethics watchdog, which found "an unacceptable risk related to petroleum prospecting off the coast of Western Sahara". The companies have now made it clear that they have discontinued their business in the area, and the exclusion is thus revoked, the central bank, which manages the fund, said in a statement.

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Sunday, November 25


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I-T department sells Cairn Energys shares in Vedanta to recover tax

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I-T department sells Cairn Energy's shares in Vedanta to recover tax By Press Trust of India | New Delhi | Last Updated at November 26 2018 01:07 IST. Weeks before an international arbitration tribunal rules on retrospective tax levied by India, the income tax (I-T) department has sold almost all of Cairn Energy’s attached shares to recover a part of the Rs 102.47 billion retrospective tax demand, regulatory filings showed. While India had used a 2012 legislation to tax certain past income of at least half a dozen foreign companies such as Vodafone, Cairn Energy of the UK remains the only company against whom the demand has been enforced and it remains to be seen if an arbitration award against it will be honoured. Cairn Energy held a 4.95 per cent stake in mining major Vedanta, which the I-T department had attached after issuing a Rs 102.47 billion tax demand in 2014 on alleged capital gains the British firm made on a decade-old reorganisation of its India business. Vedanta, in its March quarter filing of shareholding pattern to stock exchanges, showed 184 million (4.95 per cent) shares being held by Tax Recovery Officer (International taxation)-I.

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Income Tax Dept Sells Shares of Cairn Energy to Recover Retrospective Tax

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Cairn Energy held 4.95 per cent stake in mining major Vedanta Ltd which the Income Tax Department had attached after issuing a Rs 10,247 crore tax demand in 2014.Updated on: November 25, 2018, 3:02 PM ISTNew Delhi: Weeks before an international arbitration tribunal rules on retrospective tax levied by India, the Income Tax Department has sold almost all of Cairn Energy Plc's attached shares to recover a part of the Rs 10,247 crore retrospective tax demand, regulatory filings showed. While the Indian government had used a 2012 legislation to tax certain past income of at least half a dozen foreign companies such as Vodafone plc, Cairn Energy of the UK remains the only company against whom the demand has been enforced and it remains to be seen if an arbitration award against it will be honoured. In its filing for the September quarter, Vedanta did not list the Income Tax Department as holding any shares (greater than 1 per cent). As per statutory requirement, a company is obliged to list all entities holding more than 1 per cent stake. "Cairn's principal claims are that the assurance of fair and equitable treatment and protections against expropriation afforded by the Treaty have been breached by the actions of the tax department, which is seeking to apply retrospective taxes to historical transactions already closely scrutinised and approved by the Government of India," the spokesperson said. Besides selling shares, the tax department has seized dividends due to Cairn from its shareholding in Vedanta totalling USD 162 million and offset a tax rebate of USD 234 million due to Cairn as a result of overpayment of capital gains tax on a separate matter.

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Cairn Energy PLC (LON250:CNE) social chatter is higher than usual

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Cairn Energy held 4.95% stake in mining major Vedanta Ltd, which the Income Tax Department had attached after issui… https://t.co/GCUsKwiM1K
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Cairn Energy: I-T dept sells shares of Cairn Energy to recover retrospective tax

CNE

NEW DELHI: Weeks before an international arbitration tribunal rules on retrospective tax levied by India, the Income Tax Department has sold almost all of Cairn Energy Plc's attached shares to recover a part of the Rs 10,247 crore retrospective tax demand, regulatory filings showed. While the Indian government had used a 2012 legislation to tax certain past income of at least half a dozen foreign companies such as Vodafone plc, Cairn Energy of the UK remains the only company against whom the demand has been enforced and it remains to be seen if an arbitration award against it will be honoured. Vedanta in its March quarter filing of shareholding pattern to stock exchanges showed 18.41 crore (4.95 per cent) shares being held by Tax Recovery Officer (International taxation)-I. In its filing for the September quarter, Vedanta did not list the Income Tax Department as holding any shares (greater than 1 per cent). As per statutory requirement, a company is obliged to list all entities holding more than 1 per cent stake. Besides selling shares, the tax department has seized dividends due to Cairn from its shareholding in Vedanta totalling USD 162 million and offset a tax rebate of USD 234 million due to Cairn as a result of overpayment of capital gains tax on a separate matter.

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