UPL rises on acquiring 26% stake in Weather Risk Management Services

15 Jun 2016 Evaluate

UPL is currently trading at Rs. 586.85, up by 4.40 points or 0.76% from its previous closing of Rs. 582.45 on the BSE.

The scrip opened at Rs. 589.95 and has touched a high and low of Rs. 589.95 and Rs. 580.85 respectively. So far 42901 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 617.00 on 03-Jun-2016 and a 52 week low of Rs. 342.00 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 605.70 and Rs. 567.55 respectively. The current market cap of the company is Rs. 25137.64 crore.

The promoters holding in the company stood at 29.73%, while Institutions and Non-Institutions held 57.07% and 13.14% respectively.

UPL has acquired 26% stake in Weather Risk Management Services (WRMS) for cash consideration of about Rs 10 crore. The Company has signed an agreement with WRMS, the promoters of WRMS and the subsidiary of WRMS, namely, INGEN Technologies (INGEN), whereby UPL will subscribe to 37,681 equity shares constituting 26% share capital (on fully diluted basis) of WRMS. The formalities related to the acquisition will be completed within 90 days.

This collaboration will help UPL in providing farm services and, precision fanning solutions and several other value added services to farmers. UPL would leverage on technology platform developed by WRMS, to strengthen its relationship with farmers.

UPL (formerly United Phosphorus) 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.

UPL Share Price

517.45 -7.55 (-1.44%)
28-May-2024 15:48 View Price Chart
Peers
Company Name CMP
UPL 517.45
BASF India 4342.50
PI Industries 3618.80
Bayer CropScience 5210.10
Sumitomo Chemical India 448.90
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