UPL divests its entire stake in overseas JV

India Infoline News Service | Mumbai | September 22, 201610:55 IST

The company has signed a share sale agreement on 21st September 2016 with UPL Corporation Limited, which is a related party.

Dalal Street
UPL Limited has divested its entire stake in its joint venture United Phosphorus (Bangladesh) Limited.

As part of the company's plan of re-organization of the overseas associates, company has transferred its entire holding of 1627 equity shares constituting 50% of the total paid up capital of United Phosphorus (Bangladesh) Limited at a consideration of US $3,28816 to UPL Corporation Limited (formerly known as Bio-Win Corporation limited).

The company has signed a share sale agreement on 21st September 2016 with UPL Corporation Limited, which is a related party. The consideration received by UPL for the sale of its stake was calculated on the basis of net fair valuation conducted by a Chartered  Accountant.
The turnover of United Phosphorus (Bangladesh) Limited in the financial year 2014-15 was Rs. 636 lakhs.

The stock is currently trading at Rs. 686.65, up by Rs. 3.05 or 0.45% from its previous closing of Rs. 683.6 on the BSE.

The scrip opened at Rs. 695 and has touched a high and low of Rs. 696.25 and Rs. 681 respectively. So far 752416 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 34652.89 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 710.9 on 15-Sep-2016 and a 52 week low of Rs. 342 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 710.9 and Rs. 676.8 respectively.

The promoters holding in the company stood at 29.73 % while Institutions and Non-Institutions held 57.77 % and 12.44 % respectively.

The stock is currently trading above its 50 DMA.
BSE 683.45 1.20 (0.18%)

***Note: This is a NSE Chart

 

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