Rallis India shares erase early gains; close over 1 pc lower

On the NSE, the stock declined 1.43 per cent to close at Rs 301.85 after jumping 5.79 per cent to a one year high of Rs 324 during the day. Rallis India on Wednesday reported a 53 per cent growth in consolidated PAT at Rs 92 crore during the first quarter of 2020-21.

Shares of agrochemicals firm Rallis India on Thursday erased all its early gains and closed the day over 1 per cent lower. In the morning trade, the stock had gained 6 per cent after the company reported a 53 per cent growth in consolidated profit after tax (PAT) during the first quarter of 2020-21.

The stock, which gained 6 per cent to Rs 324.60 -- its 52 week-high -- on the BSE during the day, later came under fag-end selling pressure and closed at Rs 302.35, down 1.19 per cent. On the NSE, the stock declined 1.43 per cent to close at Rs 301.85 after jumping 5.79 per cent to a one year high of Rs 324 during the day.

Rallis India on Wednesday reported a 53 per cent growth in consolidated PAT at Rs 92 crore during the first quarter of 2020-21. The company's PAT stood at Rs 60 crore in April-June quarter of 2019-20, Rallis India said in a statement.

The company had recorded a growth of 6 per cent in consolidated revenue at Rs 663 crore for the quarter under review, as against Rs 623 crore in the same quarter of FY20..