Rallis India rises 11% on higher Q2 profit

Rallis India

16/10/2024 05:10

** Shares of Rallis India  RALL.NS  rise 11.5% to 359.45
rupees
    ** Agrochemical firm reports a 19.5% rise in Sept-qtr net
profit to 980 million rupees (~$11.7 million) while rev from ops
jumps 11.5%
    ** RALL on track for fourth straight session of gains
    ** Busiest session for stock since early August; more than
3.6 mln shares change hands, over 11 times the 30-day avg in
early trade
    ** Avg rating of analysts covering RALL at "sell" vs a "buy"
rating both for larger peers UPL  UPLL.NS  and Dhanuka Agritech
 DHNP.NS  
    ** RALL's median PT is at 250 rupees - LSEG data
    ** Stock up ~44% so far this year vs a ~3% fall in UPLL and
a ~44% rise in DHNP 

($1 = 84.0650 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))