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Buy Rallis India; target of Rs 400: ICICI Direct

Buy Rallis India; target of Rs 400: ICICI Direct
July 28
14:24 2021

ICICI Direct is bullish on Rallis India has recommended buy rating on the stock with a target price of Rs 400 in its research report dated July 23, 2021.

Broker Research

July 28, 2021 / 10:08 AM IST

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ICICI Direct’s research report on Rallis India

Rallis India is a leading agrochemical company with a presence across the agri input value chain and a strong and healthy pipeline of sustainable products. The company has a diversified portfolio, supported by a strong channel network of more than 6,700 dealers and 79,000 retailers In terms of revenue contribution, domestic crop care constitutes 54% of the overall revenue followed by international crop care of 30% and rest from seeds business

Outlook

We retain BUY rating on the back of better growth outlook from both domestic and international crop care business  We value Rallis India at 25x P/E FY23E EPS to arrive at a revised target price of Rs 400 per share (earlier Rs 350 per share)

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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