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UPL share rises 4% after firm pares debt by $410 million

UPL stock touched an intraday high of Rs 472.35, rising 3.87% against previous close of Rs 454.75 on BSE. The share hit an intraday low of Rs 461.20.

twitter-logoBusinessToday.In | December 30, 2020 | Updated 12:34 IST
UPL share rises 4% after firm pares debt by $410 million
On NSE, the share rose to Rs 472.40 against previous close of Rs 454.70.

UPL share rose nearly 4% today after  the manufacturer of chemicals said it completed the pre-payment of $410 million of 3.25 percent Senior Notes due October 2021. The stock touched an intraday high of Rs 472.35, rising 3.87% against previous close of Rs 454.75 on BSE.

The share hit an intraday low of Rs 461.20. On NSE, the share rose to Rs 472.40 against previous close of Rs 454.70. The stock has gained 4.67% in the last 3 days.

The share trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.  

However, the share has lost 20.37% in one year and fallen 19.67% since the beginning of this year.

In a month, the stock has risen 12.47%. Market cap of the firm rose to Rs 35,902 crore on BSE. The prepayment, which concluded on December 28, 2020, was done using the cash on its balance sheet, the company said. UPL was committed to deleveraging its balance sheet on the back of strong business prospects and agriculture commodity prices and favourable agronomic conditions, the company said.

The firm reported a stellar set of earnings in Q2 of the current fiscal.

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It reported over two-fold jump in its consolidated net profit to Rs 537 crore for the second quarter ended September 30 against net profit of Rs 202 crore in the year-ago period.

Income from operations rose to Rs 8,939 crore in Q2  from Rs 7,817 crore in the corresponding period last year. UPL Ltd is a global provider of sustainable agriculture products and solutions with annual revenue exceeding $5 billion. It has a presence in more than 130 countries.

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