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Engineers India shares fall 10%; IDFC downgrades

Engineers India Ltd's shares fell as much as 10.3% after the company's net profit missed analysts' expectations on Wednesday. IDFC Securities downgraded the stock to 'underperform' from 'neutral', citing a sharp fall in margins.

business Updated: Aug 13, 2014 12:37 IST
Reuters
Engineers India,IDFC,Engineers India shares

Engineers India shares fall 10%; IDFC downgrades

Reuters

Engineers India Ltd's shares fell as much as 10.3% after the company's net profit missed analysts' expectations on Wednesday.

IDFC Securities downgraded the stock to "underperform" from "neutral", citing a sharp fall in margins.

"Visibility of pick-up in order finalizations over the next 2-3 quarters has deteriorated, with no large order in pipeline," IDFC said.

First Published: Aug 13, 2014 12:35 IST