Wednesday, February 1, 2023
HomeBusinessRakesh Jhunjhunwala's portfolio shares fall 9% in Rallis India, Tata Group's company...

Rakesh Jhunjhunwala’s portfolio shares fall 9% in Rallis India, Tata Group’s company in loss in Q4, what should investors do?

Rallis India is also included in the portfolio of stock market veteran Rakesh Jhunjhunwala. The company has made losses in the March quarter.

Rakesh Jhunjhunwala Portfolio Stock: In today’s business, Tata Group’s stock Rallis India is witnessing a big decline of 9 percent. In today’s business, this stock weakened and came to a price of Rs 254. Whereas on Thursday it closed at Rs 281. In fact, the company has released its results for the March quarter yesterday. The company has incurred a loss of 14 crores on an annual basis during this period. Let us inform that Rallis India is also included in the portfolio of stock market veteran Rakesh Jhunjhunwala.

What should investors do?

IIFL’s VP Research, Anuj Gupta says that the sentiments about the stock have weakened further due to weak results. Right now it has gone into correction mode, where the stock can slip below Rs 240 in a few days. At present, there has been a strong support level for the stock at Rs 230. Being in sell mode, now investors should wait in the stock. If you have a long-term outlook, you can include it in the portfolio from around the support level. Those who have an investment, stay in it.

Losses due to increase in raw material cast

Rallis India is in the business of Pesticides and Agrochemicals. The company has incurred a loss of Rs 14 crore in the March quarter on account of higher raw material cast. Whereas in the same quarter a year ago, the company had a profit of Rs 8 crore. Talking about the full year, there was a decline of 28 per cent in profits and it was a little over Rs 164 crore. The company’s conso revenue grew 8 per cent year-on-year to Rs 508 crore as against Rs 471 crore in the year-ago period. The company has seen a growth of 14 percent in domestic crop care business and 6.2 percent in exports. While there was a 13 per cent weakness in the Seeds business in the March quarter. Margins were also under pressure due to rising inflation.

some challenges some positive

Management says that there were also challenges from the supply side in Q4. This affected the availability of some intermediates. At the same time, the rising inflation has also affected the profits, as it increased the cast of raw material. However, the positive is that further normal monsoon has been predicted. On the other hand, strong commodity prices at local and global levels are expected to have a favorable impact on Indian agriculture.

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Rakesh Jhunjhunwala did not sell a single share

Rallis India is trusted by veteran investor Rakesh Jhunjhunwala. He has not sold a single share of the company in the March quarter. He holds 9.8 per cent stake in the company and had the same number of shares in his portfolio in the December quarter at 19,068,320 with a total value of Rs 4999 crore in the portfolio. The stock has fallen 6 percent so far this year and 8 percent in 1 year.

(Disclaimer: Stock investment advice is given by experts. These are not the personal views of Markets are risky, so take expert opinion before investing.)


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