Buzzing stock: UPL zooms more than 8 per cent

The shares of UPL Ltd climbed over 8 per cent on Friday, touching its 52-week high of Rs 764.45 per share, after JP Morgan released a coverage report on the company, highlighting its growth potential. 

UPL had reported strong results growth, beating the general estimates. Going forward, positive earnings momentum is likely to continue. According to the report, UPL is well-positioned to benefit from the current environment of positive farmer sentiments supported by strong crop prices, which could continue to drive net debt reduction in FY22. In addition to this, volume growth & pricing adjustments, surrounded by a positive farming environment, increase confidence in the earnings trajectory for crop protection companies.  

Recently, the company has strengthened its market position by acquiring Arysta LifeScience Inc. Arysta has augmented UPL’s portfolio with speciality crop products, biosolutions, and patented/proprietary products.  

UPL Limited provides crop protection solutions. It is engaged in the business of agrochemicals, industrial chemicals, chemical intermediates, and speciality chemicals.  

On Friday, the stock of the company closed at Rs 743.55 per share, up by 7.51 per cent or Rs 51.95 per share.