UPL gains as board to mull bonus issue

UPL rose 1.20% to Rs 962.75 at 14:18 IST on BSE after the company said its board will consider a proposal to issue bonus shares on 17 May 2019.

The announcement was made during trading hours today, 8 May 2019.

Meanwhile, the S&P BSE Sensex was down 315.61 points, or 0.82% to 37,961.02.

On the BSE, 48,000 shares were traded in the counter so far compared with average daily volumes of 71,000 shares in the past two weeks. The stock had hit a high of Rs 967.80 and a low of Rs 922.70 so far during the day. The stock hit a 52-week high of Rs 974.75 on 3 May 2019. The stock hit a 52-week low of Rs 537.90 on 19 July 2018.

UPL said that its board will meet on 17 May 2019, to consider the financial results of the company for the year ended 31 March 2019. The board will also consider dividend on equity shares and issue of bonus shares.

On a consolidated basis, net profit of UPL declined 19.69% to Rs 461 crore on 17.33% rise in net sales to Rs 4921 crore in Q3 December 2018 over Q3 December 2017.

UPL is focused on emerging as a premier global provider of total crop solutions designed to secure the world's long-term food supply.

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