UPL rose 1.62% to Rs 191.80 at 9:21 IST on BSE after the company said its board will meet on 30 December 2013 to consider a proposal for buyback of the company's equity shares in accordance with the applicable provisions of law.
The announcement was made after market hours on Monday, 23 December 2013.
Meanwhile, the S&P BSE Sensex was up 53.96 points or 0.26% at 21,154.99.
On BSE, so far 56,000 shares were traded in the counter as against average daily volume of 2.35 lakh shares over the past one quarter.
The stock hit a high of Rs 193.75 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 191.25 so far during the day. The stock had hit a 52-week low of Rs 113.30 on 1 April 2013.
The stock had outperformed the market over the past one month till 23 December 2013, surging 19.5% compared with the Sensex's 4.37% rise. The scrip had also outperformed the market in past one quarter, jumping 36.18% as against Sensex's 6.03% gain.
The mid-cap company has equity capital of Rs 88.52 crore. Face value per share is Rs 2.
UPL's consolidated net profit surged 29.1% to Rs 154.63 crore on 25.9% growth in net sales to Rs 2269.22 crore in Q2 September 2013 over Q2 September 2012.
UPL is a global generic crop protection, chemicals and seeds company.
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