Rallis India surges 10% in weak market; stock nears record high

The stock rallied 10% to Rs 297.40, and was trading close to its record high level of Rs 299 touched on May 3, 2015 in intra-day deals.

Shares of Rallis India have moved higher by 10 per cent to Rs 297.40 on the BSE on Tuesday in otherwise weak market. The surge comes on the expectation of strong earnings in the June 2020 quarter. In comparison, the S&P BSE Sensex was down 1.65 per cent, or 602 points, at 36,091 at 02:52 pm on Tuesday.

The trading volumes on the counter jumped an over five-fold with a combined around 4 million shares changing hands on the NSE and BSE so far. The up move has taken the counter close to its record high level of Rs 299 hit