Rallis India has surged 5% to Rs 148, in otherwise subdued market, on hopes of strong performance in coming quarters due to good monsoon.
The company engaged in agrochemicals business had reported 20% year-on-year (yoy) jumped in its consolidated net profit at Rs 119 crore for the previous financial year 2012-13 (FY13).
The company’s seed business had posted impressive growth of around 60% yoy during FY13, while aims to improve share of non‐pesticide business from the current 10% to 40% over the next few years.
“The company’s seed inventory stood at Rs 80 crore (up around 61% yoy), which is expected to liquidate in the upcoming crop season. Hence, we believe its seed business could post strong growth in FY14,” says analyst Edelweiss Securities in June report.
The stock opened at Rs 140 and hit a high of Rs 152 on BSE. A combined 334,821 shares have changed hands on the counter till 1040 hours against an average around 150,000 shares that were traded daily in past two weeks on BSE and NSE.
The company engaged in agrochemicals business had reported 20% year-on-year (yoy) jumped in its consolidated net profit at Rs 119 crore for the previous financial year 2012-13 (FY13).
The company’s seed business had posted impressive growth of around 60% yoy during FY13, while aims to improve share of non‐pesticide business from the current 10% to 40% over the next few years.
“The company’s seed inventory stood at Rs 80 crore (up around 61% yoy), which is expected to liquidate in the upcoming crop season. Hence, we believe its seed business could post strong growth in FY14,” says analyst Edelweiss Securities in June report.
The stock opened at Rs 140 and hit a high of Rs 152 on BSE. A combined 334,821 shares have changed hands on the counter till 1040 hours against an average around 150,000 shares that were traded daily in past two weeks on BSE and NSE.