Rallis India hits near 4-month low as overseas sales drag Q2 results

Rallis India

20/10/2020 06:49

** Shares of agri chemicals and molecules maker  RALL.NS 
fall as much as 5.5% to 258.50 rupees, their lowest since June
29
    ** Co on Monday posted over 3% slide in second-quarter
profit and revenue, each, hurt by drop in international sales
and de-growth in contract manufacturing business  urn:newsml:reuters.com:*:nFWN2HA09S
    ** Rallis, a unit of India's Tata Chemicals  TTCH.NS , is
involved in making pesticides, plant nutrients, seeds as well as
contract manufacturing of molecules for global chemical
companies
    ** About 666,100 shares change hands vs 30-day avg of
690,575
    ** Nine out of 20 analysts tracking stock have "buy" or
"strong buy"; 7 "sell" or "strong sell"; 4 "hold" - Refinitiv
Eikon data
    ** RALL shares up 62.5% this year as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))