In the aftermath of a late night blast and fire at UPL-5 unit leading to two deaths and 20 being injured as well as five persons missing, the Gujarat government on Tuesday issued a closure notice to UPL Ltd s agrochemical plant at Jhagadia near Bharuch. The state s labour and employment department on Tuesday issued the closure notice to UPL Ltd (erstwhile United Phosphorus Ltd) after a blast and major fire. The fire had erupted after a blast in the factory in the early hours of Tuesday. Around 20 persons are injured apart from two fatalities and five labourers missing, according to local reports. Injured laborers were sent to Surat and Vadodara Hospitals.
Firm growth prospects for UPL, but debt reduction holds key
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Shares of UPL are up almost 40% since November lows and analysts see further gains. Photo: Mint
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After a brief pause in November, the rally in UPL stock has resumed its momentum. It is up almost 40% since November lows and analysts see further gains. The strong Q3 performance posted by the company has added to investor confidence.
The demand for agrochemicals in the country continues to remain firm led by good reservoir levels after the strong monsoon season, robust winter crop sowing and increased farmer income. Growth in India market provided support to UPL’s performance during Q3, while Latin America, the key market for UPL, saw some weakness. European markets too reported a robust growth, compensating partly for weakness in LATAM.
Mumbai (Maharashtra) [India], February 19 (ANI): Equity benchmark indices cracked further on Friday amid weak Asian cues with banking and auto majors taking a hit.
As long as it remains below 15,150 level, Nifty could continue to see weakness and head towards its next key support at 14,800 and 14,700 levels, while on the upside hurdles are seen at 15,250 and 15,400 levels.
Stay put or partially exit? Deven R Choksey s advice for PMS clients
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Last Updated: Feb 09, 2021, 01:23 PM IST
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Some profit booking at a regular level and then re-entry at a lower level could be the norm given the volatility into the market.
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Even though some of the companies are quoting at a premium of around 15-20%, clients are being told that there would be a correction of at least 10% in some of these companies, says
Deven R Choksey, MD, KR
Choksey Investment Managers
What are you telling your clients – enjoy the party as long as it lasts or do a Cinderella and press the eject button before it is 12 o’clock?