UPL dips 12% in three days post Q2 results; stock hits over four-month low

Shares of UPL continued to trade under pressure, hitting an over four-month low of Rs 399 after slipping 4 per cent on the BSE on Wednesday. The stock of the agrochemicals company was trading at its lowest level since June 15, 2020, when it touched a low of Rs 398 in intra-day trade.

In the past three days, the stock slipped 12 per cent after the company reported a lower-than-expected operational and profit performance in September quarter (Q2FY21). Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins improved 50 basis points to 20 per cent. Gross margin contracted to