BOM:500355

DAM Capital Upgrades Rallis India to Buy from Neutral; Price Target is INR301

Rallis India's Net Loss Narrows in Fiscal Q4 as Revenue Rises; Shares up 4%

Rallis India (NSE:RALLIS, BOM:500355) narrowed its net loss to 150 million Indian rupees in the fiscal fourth quarter from a loss of 320 million rupees a year ago, according to a Monday filing with the Indian exchanges by the crop company.Shares of the company rose over 4% in Tuesday's trade.Loss per share during the quarter ended March 31 came in at 0.79 rupees, compared with a loss per share of 1.67 rupees a year earlier.Revenue from operations in fiscal Q4 increased year on year to 4.56 billion rupees from 4.30 billion rupees, according to the filing.Additionally, the company's board recommended a dividend of 3 rupees per share for the financial year ended March 31.