This fertilizer stock was trending on the bourses

The shares of Rallis India Ltd surged 7% on the day.

On January 13, the market traded in the green. The S&P BSE Sensex closed trading at 60261.18, while NIFTY50 closed trading at 17,956.6, both up more than 0.5%. About sectoral performance, Metal and IT were among the top gainers, while Consumer Durables and Healthcare were the top losers. Talking about stock-specific action, Rallis India Ltd was among the top gainers in BSE group ‘A’.

The shares of Rallis India Ltd surged 6.85% and closed trading at Rs 258.05. The stock opened at Rs 242.05 and made an intraday high and low of Rs 260.5 and Rs 242, respectively.

Rallis India is a part of the Tata Group company. It is involved in the business of manufacturing agrochemicals and is present across the value chain of agriculture inputs from seeds to organic plant growth nutrients. The company is a major player in crop protection with a strong presence in three segments- insecticides, fungicides and herbicides in both domestic and international markets.

The company is also involved in the business of providing predictive advisory services, such as pest forecasts, and medium-term weather information to farmers to manage their farms through an initiative called ‘Drishti’.

For the latest September quarter, the company recorded revenue of Rs 951 crore, a YoY improvement of 30.63%. For the same quarter, the Q2FY23 net profit stood at Rs 71 crore, a YoY increase of 26.78%.

About the shareholding pattern, about 50.19% of the stake is owned by the promoters, 6.02% by FIIs, 15.16% by DIIs, 0.41% by Government and the rest 28.32% by non-institutional investors.    

The company has a market capitalization of Rs 5018 crore and is trading at a PE multiple of 28.65x. The scrip has a 52-week high and low of Rs 299.25 and Rs 182.55, respectively.