Last updated: 11 Dec, 2020 | 09:28 am
Action: As of now there is no action required to be taken by you. We are keeping a close eye on the situation and shall update you in case of any action.
What is the issue?
UPL shares had come under pressure following the news yesterday, with the stock falling nearly 14% intraday. However, the stock has now stabilised following the clarifications issued by the company. In case the corporate governance lapses get proven, it will impact the company. We will keep you updated in case of any further details.
Despite the pandemic, UPL had reported a 165% on-year jump in consolidated net profit to Rs 537 crore for the September quarter, mainly due to a robust performance in the Indian market. The timely arrival of the monsoon leading to high groundwater levels, government support for Agri initiatives and very good progress in the sowing of the Kharif crop leading to a good output would continue to be tailwinds for the agro-industry.