Rallis India share falls despite strong results


Rallis India Ltd, a part of the Tata group has announced its financial results for the quarter and nine months ended Dec 31st 2018, after market hours Thursday. On a consolidated basis, it has registered revenues of Rs 417 crs up by 7 percent for the quarter ended Dec 31st 2018, on the back of strong performance in both the domestic & global markets.

All-inclusive income or profit after Tax figured at Rs 14.00 crs, revenues totaled Rs 388 crs up by 9 percent for the quarter ended Dec 31st 2018, Rallis India said in a filing.

Apart from the result, the company also announced an amalgamation or/merger with its wholly owned subsidiary Metahelix Life Sciences Ltd.

Looking to the stock movements of Rallis India Ltd, it seems that investors are yet to stimulate with these prospects, as the share movement of Rallis India is seen in a negative circuit! 

Undergoing with selling pressure, Rallis India stock was trading at Rs. 164.90, down 4.96 percent on the NSE and BSE, during mid-market session, Friday.  The stock hit a high and low of Rs. 168.90 and 163 respectively in the weak market sentiment.