UPL rises on incorporating step-down subsidiary in South Africa
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UPL is currently trading at Rs. 567.95, up by 2.05 points or 0.36% from its previous closing of Rs. 565.90 on the BSE.
The scrip opened at Rs. 570.95 and has touched a high and low of Rs. 571.75 and Rs. 567.40 respectively. So far 50247 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 807.00 on 05-Dec-2022 and a 52 week low of Rs. 528.35 on 31-Oct-2023.
Last one week high and low of the scrip stood at Rs. 571.75 and Rs. 555.05 respectively. The current market cap of the company is Rs. 42720.83 crore.
The promoters holding in the company stood at 32.35%, while Institutions and Non-Institutions held 50.84% and 12.78% respectively.
UPL has received an intimation on November 22, 2023, about issuance of certificate of incorporation with regards to new step-down subsidiary viz. Advanta Seeds (Pty) in South Africa effective November 21, 2023. Advanta Seeds (Pty) would be a step-down subsidiary at Advanta Seed structure under Advanta Enterprises, India in which the company holds 86.67%. The company has incorporated subsidiary to carry out seeds and related business, upon infusion of share capital in due course.
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.
