UPL Ltd welcomes decision allowing manufacture of 27 agrochemicals for exports - Equity Bulls

The Ministry of Agriculture and Farmer's welfare issued an addendum on 13th June 2020, to its notification issued on 14th May 2020, allowing the manufacture of 27 agrochemicals for export purposes.

Further, on other matters the ministry has extended the timeline for submission of representation by the stakeholders (on the 14th May 2020 notification) from 45 days to 90 days.

Jai Shroff, Global Chief Executive Officer stated "We are pleased that the Government has considered the representations made by the stakeholders and welcome the decision of allowing the exports of 27 proposed products. We remain confident that the Government will take a pragmatic approach and permit the sale of these products in domestic markets too as these provide cost-effective solutions to the farmers, thereby ensuring stability of the food supply chain."

Shares of UPL Limited was last trading in BSE at Rs.420.95 as compared to the previous close of Rs. 414.4. The total number of shares traded during the day was 317656 in over 7128 trades.

The stock hit an intraday high of Rs. 423.95 and intraday low of 409.1. The net turnover during the day was Rs. 132439985.

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