Engineers India shares fall 10 pct; IDFC downgrades

Written by Reuters | Updated: Aug 13 2014, 17:59pm hrs
Engineers India Ltd's shares fall as much as 10.3 percent after the company's net profit missed analysts' expectations.

IDFC Securities downgrades 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 says.