UPL soars 4% on raising stake in Brazil arm to 73% from 51%

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26 Aug, 2025 12:21

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Shares of UPL (formerly known as United Phosphorus) gained as much as 3.8 percent intraday on Wednesday after the company raised its stake in Brazil arm to 73 percent from 51 percent.

"UPL through its step down wholly owned subsidiary has acquired further shares out of the fressh issue of shares issued by UPL do Brasil and accordingly increased its stake in UPL do Brasil to 73 percent. The balance 27 percent stake is held by other existing shareholders," the company said in its filing.

UPL had acquired a 51 percent stake in DVA Agro Do Brasil, a Brazilian company, from German-based DVA group and other shareholders. Subsequentily the name was changed to UPL do Brasil Industria E Comercio de Insumos Agropecuario SA.

UPL do Brasil is engaged in the production and selling of crop protection products and specialties in the Brazil.

At 11:42 hours IST, the stock climbed 2 percent to Rs 186 amid high volumes on the BSE.

Posted by Sunil Shankar Matkar