UPL rallies over 8% post Q4 results; stock hits 52-week high

NEW DELHI: UPL Ltd rallied as much as 8.6 per cent in trade on Friday to hit its fresh 52-week high of Rs 233.45, after the company reported 29 per cent YoY rise in its net profit for the quarter ended March 2014 to Rs 360.28 crores.

"UPL Limited" formerly known as United Phosphorus Limited reported a net profit of Rs 278.40 in the corresponding quarter a year earlier, it said in a statement.

Net Sales of the company rose by 19 per cent YoY to Rs 3296.32 crores as compared to Rs 2772.50 crores reported in the year-ago period.

Tracking the momentum, Mitesh Thacker of miteshthacker.com recommends investors to 'buy' the stock at current levels for a target of Rs 245, keeping stop loss placed below Rs 214.