ICICI Direct has given Hold recommendation for Rallis India with a target price of Rs. 305 in its research report issued on Jan 20, 2022

ICICI Direct’s research report on Rallis India

Rallis India is a leading agrochemical company with a presence across agri input value chain and a strong, healthy pipeline of sustainable products. The company has a diversified portfolio, supported by a strong channel network of more than 6,700 dealers and 79,000 retailers. In terms of revenue contribution, domestic crop care constitutes 54% of overall revenue followed by international crop care of 30% and the rest from the seeds business.


We maintain our HOLD rating on the back of input cost inflation pressure. We value Rallis India at 22x P/E FY23E EPS to arrive at a revised target price of Rs 305 per share (earlier Rs 305 per share).

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At 16:00 hrs Rallis India was quoting at Rs 277.40, down Rs 17.25, or 5.85 percent.

It has touched an intraday high of Rs 283.15 and an intraday low of Rs 275.05.

It was trading with volumes of 76,987 shares, compared to its thirty day average of 25,599 shares, an increase of 200.74 percent.

In the previous trading session, the share closed up 2.61 percent or Rs 7.50 at Rs 294.65.

The share touched its 52-week high Rs 362.00 and 52-week low Rs 243.85 on 18 June, 2021 and 19 March, 2021, respectively.

Currently, it is trading 23.37 percent below its 52-week high and 13.76 percent above its 52-week low.

Market capitalisation stands at Rs 5,394.57 crore.

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