UPL has through its step down wholly owned subsidiary, increased its stake in UPL do Brasil Industria E Comercio de Insumos Agropecuarios S.A. (UPL do Brasil), a Brazilian company, from 73% to 100% by acquiring the balance 27% shares from its existing shareholders.
UPL do Brasil, bases out of Campinas, Sao Paulo state in Brazil is engaged in the production marketing, selling and distribution for crop protection products and specialties in the Brazilian agrochemicals market.
Shares of the company declined Rs 8.2, or 1.92%, to trade at Rs 419.65. The total volume of shares traded was 188,535 at the BSE (11.13 a.m., Friday).