Buy UPL, target price Rs 645: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities has buy call on UPL with a target price of Rs 645. The current market price of UPL is Rs 624.95. Shrikant Chouhan recommended to keep stop loss at Rs 615.

UPL, incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 46894.21 Crore) operating in Pesticides/Agro Chemicals sector.

UPL key Products/Revenue Segments include Agrochemicals, Export Incentives, Sale of services, Other Operating Revenue, Royalty Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 9064.00 Crore, down -45.98 % from last quarter Total Income of Rs 16780.00 Crore and down -16.80 % from last year same quarter Total Income of Rs 10894.00 Crore. Company has reported net profit after tax of Rs 159.00 Crore in latest quarter.

Investment Rationale
Stock is trading into a rising channel pattern with a higher high & higher low formation on weekly scale.

Promoter/FII Holdings
Promoters held 32.35 per cent stake in the company as of 30-Jun-2023, while FIIs owned 37.96 per cent, DIIs 14.91 per cent.