Stocks

Rallis India shares jump on results; see biggest gain in 18 months

Reuters Mumbai | Updated on July 19, 2019 Published on July 19, 2019

Shares of Rallis India Ltd on Friday rose as much as 8.4% to Rs 165, their biggest intraday percentage gain since December 2017

At 10.10 am, the Rallis India stock was quoted at Rs 159.40, up 5.35% on the BSE, while on the NSE, it was trading at Rs 159.40, up over 5% with volumes of 11.38 lakh shares.

Agro inputs manufacturer on Thursday posted 24% jump in June-qtr profit at Rs 67.76 crore.

Around 93,000 shares change hands in early trade, 9.1 times the 30-day average

Ten of 18 brokerages covering the stock have “buy” or equivalent ratings, four “sell” and four “hold”;

The Target Price for the stock was Rs 175, according to the Refinitiv data.

Up to last close, stock had fallen 15.3% this year.

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Published on July 19, 2019
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