According to the technical analyst from Anand Rathi, UPL has formed a Bullish Bat pattern and can rally up to Rs 775.
Analysts consider the south-west monsoon to be the lifeline of India's agri-based economy, as it is likely to brighten outlook for bumper crop output amid inflationary times post covid-19 blowout.
The company's net profit stood at Rs 1,065 crore in the corresponding quarter of the previous financial year, UPL said in a statement
CLOSING BELL: Sectorally, only the Nifty IT index eked out gain on the NSE, rising 0.14 per cent
Buyback could support the price in the near term
CLOSING BELL: Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent
UPL, in a regulatory filing, said it will offload the stake for a consideration of Rs 1.75 crore and the deal is expected to be completed by March 31 this year
Shares of multiplex restaurant owners are likely to be in focus on easing of Covid-19 related curbs in Maharashtra.
The buyback of shares will be at a price not exceeding Rs 875 per equity share through the open market route
In the past one week, the stock of UPL has corrected 13 per cent as compared to 6 per cent decline in the S&P BSE Sensex
Apollo Hospitals is likely to be in limelight as the stock enters Nifty 50. It will be replacing IOC with effect from March 31.
Brokerage house Centrum Broking has given a 'buy' call for Godfrey Phillips India and UPL shares.
Agro-chemical firm UPL on Monday reported 24.89 per cent growth in consolidated net profit at Rs 1,179 crore for December quarter 2021-22.
Large part of today's rally in the headline indices was led by IT stocks such Tech M, Wipro, Infosys and HCL Tech; financials such as Bajaj twins and SBI, and index heavyweights RIL
Brokerages CLSA and Emkay Global Financial Services have recommended 'buy' rating on UPL with target prices of Rs 1,100 and Rs 910, respectively.
Progress on launches, margin gains and debt reduction key for rerating
Latent View Analytics was locked at the 20 per cent upper circuit for the second straight day. The stock has now zoomed 257 per cent from its issue price in just three trading sessions
The sharp fall in the market has seen these stocks slip into oversold zone. Charts hint at a sharp rally in all these from the current levels, provided the overall market sentiment stays positive
Despite rising debt, margin pressures, the company has maintained its FY22 guidance
UPL has been accused by the country's environment department of illegally storing hazardous chemicals.