UPL rallies 7% on heavy volumes; stock surges 34% from December low

A combined 27 million equity shares, representing 3.5 per cent of total equity of UPL, changed hands on the NSE and BSE at the time of writing of this report

Shares of UPL hit an over 11-month high of Rs 558, up 7 per cent, on the back of heavy volumes in an otherwise subdued market on the National Stock Exchange (NSE). With today's gain, it has bounced back 34 per cent from its recent low of Rs 416, hit on December 21, 2020, in the intra-day trade.

The stock of the agrochemicals company was trading at its highest level since February 2020. Moreover, it was quoting close to its 52-week high level of Rs 601, touched on February 14 last year. Trading volumes on the counter more-than-doubled with