UPL jumps as its arm inks SSA with MIC to set up manufacturing complex in Saudi Arabia
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UPL is currently trading at Rs. 484.00, up by 10.85 points or 2.29% from its previous closing of Rs. 473.15 on the BSE.
The scrip opened at Rs. 475.60 and has touched a high and low of Rs. 485.75 and Rs. 475.20 respectively. So far 92364 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 760.45 on 02-May-2023 and a 52 week low of Rs. 452.40 on 13-Feb-2024.
Last one week high and low of the scrip stood at Rs. 491.00 and Rs. 464.70 respectively. The current market cap of the company is Rs. 36160.52 crore.
The promoters holding in the company stood at 32.35%, while Institutions and Non-Institutions held 54.51% and 13.14% respectively.
UPL’s wholly owned subsidiary -- UPL Corporation, Mauritius (UPL Corp) and Masarrah Investment Company (MIC) have entered into a Share Subscription agreement (SSA) to set up a manufacturing complex in Saudi Arabia for the production of phosphate, cyanide and chlorine value added products to create a diversified export portfolio.
As per the terms of the SSA, UPL Arabia for Chemical Manufacturing (UPL Arabia), which is currently wholly owned subsidiary of UPL Corp in Saudi Arabia, will issue new shares to UPL Corp and MIC. Post issuance of new shares, UPL Corp will hold 85% shareholding and MIC will hold 15% shareholding in UPL Arabia.
UPL is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.
