Rallis India up after Q3 profit rises
24/01/2024 10:01
** Shares of Rallis India RALL.NS up 2.9% at 260.50
rupees, having risen as much as 4% earlier
** Agricultural chemical maker on Tuesday reported 9.9% Y/Y
rise in Q3 net profit
** Revenue from ops fell 5.1% while total expenses declined
5.3%
** Co also approved proposal for capacity addition at
pendimethalin plant at Dahej SEZ in Gujarat by ~2,000 MT/annum;
plant's current capacity is ~5,000 MT/annum
** Trading vol 1.2x the 30-day daily avg
** Avg rating of 14 analysts equivalent of "sell", median PT
is 214.50 rupees - LSEG data
** Stock rose 3.1% in 2023, after falling for two straight
years
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))