Petronet LNG shares were down 4.5 per cent, heading for a second day of falls on broker downgrades after June-quarter earnings lagged some analysts' estimates.
Petronet LNG shares were down 4.5 per cent, heading for a second day of falls on broker downgrades after June-quarter earnings lagged some analysts' estimates.
Credit Suisse downgraded stock to "underperform" from "neutral".
Sustained losses at Kochi terminal make earnings cuts likely, the broker added.
HSBC has also cut the stock to "underweight" from "neutral", and said gain of 47 per cent in 2014 so far captures upside.
The company on Monday said April-June profit fell about 31 per cent to Rs 157 crore ($25.75 million).
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($1 = Rs 60.9800)
Copyright : Thomson Reuters 2014
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