Rallis India hits record high; jumps 12.5% in three days

Rallis India gained 2.26% to Rs 332.70, extending its winning run to third consecutive trading session.

Rallis India has surged 12.5% in three consecutive trading sessions. The counter hit an all time high of Rs 340 in intraday today.

The stock has soared 167% from its recent 52-week low of Rs 127.10 on 24 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 72.108. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages placed at 287.63, 251.86 and 224.73 respectively.

The agro chemical maker reported 35.58% rise in consolidated net profit to Rs 91.87 crore on 6.85% rise in total income to Rs 674.45 crore in Q1 June 2020 over Q1 June 2019.

Rallis India is a subsidiary of Tata Chemicals and a part of Tata Group. It is one of India's leading agro sciences companies.

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