Sell UPL, target price Rs 632: Religare Broking

Religare Broking has sell call on UPL with a target price of Rs 632. The current market price of UPL is Rs 649.75. .Religare Broking recommended to keep stop loss at Rs 676.

UPL, incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 48890.83 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 31-03-2023, the company has reported a Consolidated Total Income of Rs 16780.00 Crore, up 21.65 % from last quarter Total Income of Rs 13794.00 Crore and up 5.03 % from last year same quarter Total Income of Rs 15977.00 Crore. Company has reported net profit after tax of Rs 960.00 Crore in latest quarter.

Investment Rationale Trading with corrective bias. The chart pattern indicates pressure to extend.

Promoter/FII Holdings
Promoters held 32.35 per cent stake in the company as of 31-Mar-2023, while FIIs owned 38.69 per cent, DIIs 14.33 per cent.