Rallis India falls over 4% after March quarter losses widen
26/04/2023 05:52
** Shares of Rallis India Ltd RALL.NS fall as much as
4.62%, their steepest intraday decline since Jan 19, to 190
rupees
** Slide after the agri-products maker's March quarter
losses widen to 691.3 mln rupees from 141.3 mln rupees a year
ago urn:newsml:reuters.com:*:nFWN36S0Z9
** Revenue rose marginally to 5.23 bln rupees; RALL also
recommended a dividend of 2.5 rupees per share
** Brokerage Equirus Securities flags significant price
erosion across multiple products in RALL's international
business in first half of FY25
** Cuts FY24-25 profit estimates by 16-25%
** The MACD (moving average convergence divergence) line
fell below the signal line on April 25, implying bearish bias
** About 462,512 shares change hands as of 10:05 a.m. IST,
more than twice the 30-day avg - Refinitiv IBES data
** Of the 14 analysts tracking RALL, three have "buy"
rating, three "sell" and eight "hold;" median TP is 225 rupees
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))