Rallis India jumps after mutual fund buys stake

Rallis India rose 6.10% to Rs 244.35 at 11:02 IST on BSE after Franklin Templeton Mutual Fund bought 17.81 lakh shares, or 0.92% equity, of the company at Rs 230 each on BSE yesterday, 27 November 2017.

Meanwhile, the S&P BSE Sensex was down 45.02 points, or 0.13% to 33,679.42.

On the BSE, 4.06 lakh shares were traded in the counter so far, compared with average daily volumes of 86,660 shares in the past one quarter. The stock had hit a high of Rs 248 and a low of Rs 238.50 so far during the day. The stock hit a 52-week high of Rs 264.60 on 31 March 2017. The stock hit a 52-week low of Rs 188.45 on 29 December 2016.

 

On a consolidated basis, net profit of Rallis India rose 16.13% to Rs 77.25 crore on 9.15% rise in net sales to Rs 587.87 crore in Q2 September 2017 over Q2 September 2016.

Rallis India, is a subsidiary of Tata Chemicals, with its business presence in the Farm Essentials vertical. It is one of India's leading crop care companies.

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