UPL

Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.

Stocks to Watch: Tata Steel reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe

Total expenses rose 23.4% to Rs 12,313 crore in the quarter ended Dec. 31

Consensus target price for these stocks well above current market price

Higher demand to keep revenue growth strong in the second half of FY23

UPL on Tuesday said its consolidated net profit rose 25.19 per cent to Rs 969 crore in the second quarter of FY23 on strong sales, and also announced that founder Rajju Shroff has stepped down as CMD. The agro-chemical company had posted a consolidated net profit of Rs 774 crore during the second quarter previous year. "Due to ongoing war between Russia and Ukraine, and the sanctions in the region, the Group's business has been impacted to some extent," the company said in a regulatory filing. Shroff, 90, due to advancing age has expressed his desire to step down from his dual responsibility as Chairman and Managing Director (CMD) and now wishes to devote full time for social causes and focus on improving Indian agriculture and chemical industry, UPL said in the filing. Shroff will become 'Chairman Emeritus' of the Board, effective from December 1, 2022, it added. The company's board has designated Jai Shroff, non-executive director, as the Chairman of the Board with effect from ..

KKR, the US-based private equity firm, will separately invest Rs 2,460 crore to pick up a 13.33 per cent stake in Advanta Enterprises, a subsidiary of UPL.

Agrochemical major UPL on Friday announced a strategic corporate realignment in which ADIA, Brookfield, KKR and TPG will separately invest Rs 4,040 crore (USD 500 million) for minority stakes in its pure-play business platforms. Abu Dhabi Investment Authority (ADIA), Brookfield and TPG will invest Rs 1,580 crore (USD 200 million) for a 9.09 per cent stake in Agri-tech Platform UPL SAS at an equity valuation of Rs 17,380 crore (USD 2.2 billion), UPL said in a statement. KKR will invest USD 300 million (Rs 2,460 crore) for a 13.33 per cent stake 'Advanta Enterprises - Global Seeds Platform' at an equity valuation of USD 2.25 billion (Rs 18,450 crore). ADIA and TPG will hold a 22.2 per cent stake in UPL Cayman, which will be the Global Crop Protection Platform (ex-India), according to the statement. The financial details of the deal were not disclosed. These investments are independent transactions for which separate agreements have been agreed pursuant to negotiations between each of

CLOSING BELL: PSU banks, auto, IT, metal, and realty stocks plunged the most on the bourses. Their respective indices on the National Stock Exchange declined between 2 and 4 per cent

Stocks to Watch: State Bank of India (SBI) has clarified that it has not been identified as a nodal bank for handling Russia-related rupee transactions

Agriculture solutions provider UPL Corporation on Thursday said Mike Frank has been elevated as the chief executive officer (CEO) of UPL Ltd. Frank will also be a member of the UPL Crop Protection Board of Directors, the company said in a statement. UPL's Global Crop Protection (CP) business manages all CP assets outside of India. Frank joined UPL Ltd in early 2022 as president and Chief operating officer of UPL's Crop Protection business based out of its London headquarters. He played a significant role in driving sustainable solutions in global food value chain networks to advance its OpenAg purpose. "Frank was the natural choice to lead this transition, bringing extensive experience leading global agriculture companies... Mike has already demonstrated an impressive leadership style, entrepreneurial mindset and a strong commitment to strengthening organisational culture," Group CEO of UPL and chairman of UPL Corporation Jai Shroff said. "I am very excited to work with our passi

Stocks to watch today: Adani Enterprises is set to enter the NSE Nifty50 index from September 30, replacing Shree Cement at the exchange; UPL promoted Mike Frank to Chief Executive Officer.

CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan

UPL expects strong performance (10 per cent plus revenue growth and 12-15 per cent EBITDA growth) in the current fiscal year FY23.

According to the technical analyst from Anand Rathi, UPL has formed a Bullish Bat pattern and can rally up to Rs 775.

Analysts consider the south-west monsoon to be the lifeline of India's agri-based economy, as it is likely to brighten outlook for bumper crop output amid inflationary times post covid-19 blowout.

The company's net profit stood at Rs 1,065 crore in the corresponding quarter of the previous financial year, UPL said in a statement

CLOSING BELL: Sectorally, only the Nifty IT index eked out gain on the NSE, rising 0.14 per cent

Buyback could support the price in the near term

CLOSING BELL: Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent