BackEngineers India shares fall 14% on stock downgrade
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13 Aug 2014, 04:42 PM IST
IDFC Securities downgraded the stock to 'underperform' from 'neutral', citing a sharp fall in margins
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Mumbai: Engineers India Ltd’s shares fell as much as 14.5% after the company’s June quarter net profit missed analysts’ expectations.
IDFC Securities Ltd downgraded the stock to “underperform" from “neutral", citing a sharp fall in margins.
“Visibility of pick-up in order finalizations over the next two-three quarters has deteriorated, with no large order in pipeline," IDFC said.
Shares of Engineers India ended 13.89% lower at ₹ 238.70 apiece on BSE on Wednesday, while the Sensex rose 0.15% to 25,918.95. Reuters
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Published: 13 Aug 2014, 11:02 AM IST
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