Sarin

Sarin: Fidelity pares down stake to 4.8% from 6.2%, having been a significant sh/h for just under 6mths. The stock is down 21% to $0.91 currently, since announcing its 2Q12 results on 5 Aug. Although the results were inline, with net profit up 31% yoy to $6.6m, investors may be concerned about potential headwinds putting a dampener on the 3Q results. High rough diamond prices and expectation of a fall in polished prices have resulted in Indian mnftrs holding out on purchasing rough stones, and wholesale traders delaying purchase of polished stones. KE Research earlier highlighted possibility of Indian mnftrs potentially facing a liquidity issue and putting off capital eqpt spending, impeding Sarin's business in the short term.