Rallis India has surged 12.5% in three consecutive trading sessions. The counter hit an all time high of Rs 340 in intraday today.

The stock has soared 167% from its recent 52-week low of Rs 127.10 on 24 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 72.108. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages placed at 287.63, 251.86 and 224.73 respectively.

The agro chemical maker reported 35.58% rise in consolidated net profit to Rs 91.87 crore on 6.85% rise in total income to Rs 674.45 crore in Q1 June 2020 over Q1 June 2019.

Rallis India is a subsidiary of Tata Chemicals and a part of Tata Group. It is one of India's leading agro sciences companies.

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The result was announced after market hours yesterday, 22 July 2020.

Consolidated profit before tax (PBT) before exceptional items surged 38% to Rs 120 crore in Q1 June 2020 over Q1 June 2019.

Sanjiv Lal, Managing Director and CEO, Rallis India, said that timely arrival of the monsoon and positive farmer sentiment, agricultural activity has picked up well. Going forward, the company expects the domestic demand to remain buoyant for crop care products and exports to gradually pick up as well.

Rallis India is a subsidiary of Tata Chemicals and a part of Tata Group. It is one of India's leading Agro Sciences Companies.

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Net profit of Rallis India rose 35.58% to Rs 91.87 crore in the quarter ended June 2020 as against Rs 67.76 crore during the previous quarter ended June 2019. Sales rose 6.33% to Rs 662.70 crore in the quarter ended June 2020 as against Rs 623.24 crore during the previous quarter ended June 2019.

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Rallis India will hold a meeting of the Board of Directors of the Company on 22 July 2020.

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