UPL rises on entering into Joint Venture agreement with Aarti Industries

24 May 2024 Evaluate

UPL is currently trading at Rs. 518.15, up by 7.80 points or 1.53% from its previous closing of Rs. 510.35 on the BSE.

The scrip opened at Rs. 516.05 and has touched a high and low of Rs. 521.45 and Rs. 513.65 respectively. So far 33727 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 698.85 on 08-Jun-2023 and a 52 week low of Rs. 448.00 on 14-Mar-2024.

Last one week high and low of the scrip stood at Rs. 521.90 and Rs. 507.20 respectively. The current market cap of the company is Rs. 38307.26 crore.

The promoters holding in the company stood at 32.35%, while Institutions and Non-Institutions held 48.96% and 15.38% respectively.

UPL has entered into a Joint Venture agreement with Aarti Industries on May 23, 2024 for manufacturing and marketing of specialty chemicals that has applications in multiple downstream industries. 

The proposed Joint Venture between UPL and Aarti Industries is for sale and marketing of specialty chemicals having diverse downstream applications in agrochemical and paint industry. The arrangement will combine the strength of Aarti Industries and UPL supplying key raw materials for manufacturing of specialty chemicals.

UPL and Aarti Industries propose to initially invest Rs 12.50 crore each, in equity share capital of Augene Chemical (ACPL). Subsequently, over a period of about 24 months, it is proposed to invest Rs 137.50 crore each in one or more tranches in the form of equity capital/preference share capital/debt. Post subscription by both UPL and Aarti Industries, their respective shareholding in ACPL will be 50%:50%. 

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.


UPL Share Price

552.15 -5.35 (-0.96%)
14-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
UPL 552.15
BASF India 4957.30
PI Industries 3640.00
Bayer CropScience 6105.55
Sumitomo Chemical India 496.00
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