Stocks
Rallis India shares jump 15% after HSBC upgrade to ‘buy’
Mumbai/IBNS: Shares of Tata Group firm Rallis India Ltd. surged nearly 15% on Thursday after global brokerage HSBC upgraded the stock to ‘Buy’ following a strong Q3 performance, media reports said.
HSBC cited improving earnings momentum and better-than-expected quarterly results as key reasons for the upgrade.
The brokerage has set a target price of ₹300, indicating significant upside potential from current levels.
The upgrade triggered a sharp rally in the stock, reflecting renewed investor confidence in the company’s growth outlook.
HSBC also pointed to stronger execution across business segments and an improving outlook, even as the agri-input sector continues to face broader industry challenges.
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