Engineers India's (ENGR) 2QFY21 revenues were in-line with our estimates. Operating profit came in 13% lower than our estimate, owing to lower profitability from the Turnkey segment and a couple of one-off incomes, which was part of the operating profit of the base quarter. The buyback proposal for acquisition of 69.9m shares (~11% of total shares) at INR84/share is expected to be completed in the next three months. The same would happen via a tender offer, and the Government of India (GoI) would participate, with a stipulation of maintaining its shareholding at 51%...