Bayer CropScience share price falls post weak Q4 results, Elara Capital slashes target price; Time to buy or sell?

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₹5,270.05 apiece on BSE; the stock touched an intraday low of ₹5,199.50 and an intraday high of ₹5,280.For the current calendar year (2024), the Bayer CropScience stock price has slumped 5.43%. According to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, this has been an underperformer, and last week it was under tremendous pressure.

Currently, ₹5,150–5,200 is a strong support zone that, if broken, will trigger further sell-off towards 5,000. The bearish gap left last week was around 5,400 to act as immediate resistance.

Bhosale advises traders to use bounce to exit longs. Also Read: Cochin Shipyard shares climb 10% to touch new all-time high as net profit soars multifold in Q4Brokerage Elara Capital, in its recent report, reiterated a 'buy' call for the stock with a lower target price of ₹6,895 from ₹7,186 based on 30x (unchanged) FY26E P/E.

However, the domestic brokerage believes that the stock has a 23% potential upside.The fourth quarter of the 2023–24 fiscal year saw a 39.43% decline in net profit to ₹96 crore for Bayer CropScience, the Indian division of German agricultural science giant Bayer AG. This decline was attributed to drop in income.Its total income for the fourth quarter fell by almost 18% to ₹821.1 crore from ₹1,003.2 crore during the same time last year.