UPL slips 23% in a month post closure of buyback offer; hits 52-week low

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

Shares of UPL hit 52-week low of Rs 618.05, down 5 per cent on the BSE in Wednesday’s intra-day trade, falling 23 per cent in a month, after closure of buyback offer on May 20, 2022. The stock of pesticides and agrochemicals company fell below its previous low of Rs 625 that it had touched on February 24, 2022.

UPL bought back 13.43 million equity shares at an average price of Rs 813.92 a piece. The company has utilized Rs 1,094 crore, which represents 99.43 per cent of the maximum buyback size.

On April 7, 2022, the company