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Rallis India |
Growth trajectory intact, Maintain BUY |
BUY
CMP: Rs 1,391 Target Price: Rs 1,800
n Rallis India management maintains its encouraging outlook for rabi crop and H2FY11 growth target
n Recent floods have adversely affected crop output in few regions however on overall basis revenue growth is likely to remain intact for Rallis
n Foray into branded pulses segment by Tata Chemicals may unravel attractive growth opportunity in future for Rallis
n We expect momentum in earnings to continue – we maintain BUY with price target of Rs 1800
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