BGR Energy8217;s shares up 8.68 per cent

Shares of BGR Energy bounced back as the management on Friday clarified in a conference call the company was not involved with the firms tainted in the bribe-for-loan scam,three dealers said. The investors took advantage of last week8217;s over 20 per cent fall in the stock,since the scam came to light on Nov 19. 8220;We view the recent sell-off as unwarranted given our understanding of steady execution of BGR8217;s large EPC projects,robust order pipeline and potential entry into BTG equipment manufacturing with Hitachi,8221; BNP Paribas said in a note. The brokerage retained 8220;buy8221; rating and price target of Rs 968. At 12:35 p.m.,the stock was up 8.68 per cent at Rs 620.05.