HSBC has issued a “Reduce” rating on Rallis India, with a target price of ₹251 per share. The company is in the process of refining its business model to leverage its strengths, and HSBC notes that a well-executed plan could enhance its competitive position.
Rallis India is aiming to double its market share in the domestic crop protection (CP) segment while planning to strategically grow its revenue over the next 4-5 years. The company is also becoming more selective in its approach to exports.
However, despite these initiatives, HSBC maintains a “Reduce” rating, citing ongoing industry headwinds that could pose challenges to the company’s growth objectives.
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