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Tekfen Falls Most in Week After 2Q Profit Misses Estimates

Aug. 23 (Bloomberg) -- Shrs decline 1.8% to 6.64 liras, biggest drop since Aug. 14. * 2Q net income 56.8m lira vs 67 lira yr earlier; avg est. of eight analysts 69.5m lira * Shrs rise 24% this year vs ISE National Index 29% * NOTE: Renaissance Capital initiated coverage with buy recommendation and 12-mth PT of 10 liras; link to story: NSN M7EFUA6JTSF3 <GO> * NOTE: Tekfen will invest $232m to build a new plant, upgrade existing ones, it said June 21; link to story: NSN M5YMRA6JTSE8 <GO>

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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