United Phosphorus (UPL) shares jumped on Tuesday after it announced that its overseas subsidiary has entered into an agreement with an Italian company S.p.A (Sipcam), to sell its entire stake of 50% in the Brazilian Agrochemical Company Sipcam UPL Brasil S.A, subject to fulfillment of certain conditions and approvals.
The gross consideration amount of the transaction id USD 58.50 million (Appromimately Rs 3.51 billion). Sipcam is the current 50% joint venture partner with UPL in Sipcam UPL Brasil S.A.
Shares of the company are trading at Rs 188.30, up Rs 4.15, or 2.25% at the Bombay Stock Exchange (BSE) on Tuesday at 10:15 a.m.
The scrip has touched an intra-day high of Rs 190.75 and low of Rs 184.05. The total volume of shares traded at the BSE is 113,839.
In the earlier session, the shares climbed 0.38%, or Rs 0.70, at Rs 184.15.
Currently, the stock is trading down 13.62% from its 52-week high of Rs 218.00 and above 66.2% over the 52-week low of Rs 113.30.