Motilal Oswal has given Neutral recommendation for UPL with a target price of Rs. 631 in its research report issued on Mar 08, 2021

Motilal Oswal’s research report on UPL

UPL has announced a long-term strategic collaboration with FMC Corporation. It will toll manufacture and supply Rynaxypyr to FMC in India. FMC will supply the active ingredient (AI) to UPL depending on the market. We have analyzed the market size, use of Rynaxypyr, and impact of the agreement on UPL.

Outlook

We maintain our Neutral view with a TP of INR631/share.

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