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United Phosphorus climbs up on getting nod to amalgamate overseas subsidiary

19 Jan 2012 Evaluate

United Phosphorus is currently trading at Rs. 141.80, up by 5.10 points or 3.73% from its previous closing of Rs. 136.70 on the BSE.

The scrip opened at Rs. 138.80 and has touched a high and low of Rs. 142.00 and Rs. 138.40 respectively. So far 49339 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 171.20 on 13-May-2011 and a 52 week low of Rs. 120.20 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 143.00 and Rs. 133.20 respectively. The current market cap of the company is Rs. 6534.53 crore.

The promoters holding in the company stood at 27.34% while Institutions and Non-Institutions held 51.08% and 21.49% respectively.

United Phosphorus has received an approval whereby the High Court of Gujarat, vide its order dated December 20, 2011 and January 13, 2012; has sanctioned the scheme of amalgamation of company's overseas subsidiary - United Phosphorus (Mauritius) with itself effective from July 01, 2011.

United Phosphorus is the largest Indian agrochemical company and is engaged in research, manufacturing, selling and distribution of agrochemicals and specialty chemicals across the globe.

The company’s net profit after tax for the quarter tumbled 55.52% at Rs 36.19 crore as compared to Rs 81.36 crore for the quarter ended September 30, 2010. Total income has increased by 20.46% to Rs 929.07 crore for the quarter under review from Rs 771.28 crore for the similar quarter of the previous year.

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