India's UPL maintains FY25 outlook; shares gain

UPL

12/11/2024 07:50

** Shares of UPL  UPLL.NS  rise as much as 7.3% to 524
rupees 
** Agrochemicals maker said it maintains positive outlook for
FY25 and expects growth in margins in H2FY25 despite wider Q2
consol net loss 
    ** Antique Stock Broking says co will benefit from lower
inventory and channel destocking costs in H2FY25 
    ** Adds co expects benefits of low-cost raw materials to
start flowing in H2FY25, citing management commentary
    ** Hikes TP on stock to 740 rupees, a ~44% premium on last
close, keeps "buy" 
    ** Motilal Oswal keeps TP of 550 rupees, rating at "neutral"
    ** At least 5 brokerages raised TP on stock post results,
while three slashed targets - LSEG data  
    ** UPLL last up 3.7%, trimming YTD losses to 8.5% 
     

(Reporting by Manvi Pant in Bengaluru)
((mailto:Manvi.Pant@thomsonreuters.com; +918447554364;))