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    UPL shares fall 12% after HSBC Research cites business headwinds

    UPL shares fall 12% after HSBC Research cites business headwinds

    UPL shares fall 12% after HSBC Research cites business headwinds
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    By Mousumi Paul   IST (Published)

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    Shares of United Phosphorus Limited (UPL) fell 12.31 percent intraday on Thursday after HSBC Research raised concerns on declining soyabean demand, pricing pressure from the US-China trade tensions and the African swine fever (ASF).

    Shares of United Phosphorus Limited (UPL) fell 12.31 percent intraday on Thursday after HSBC Research raised concerns on declining soybean demand, pricing pressure from the US-China trade tensions and the African swine fever (ASF).
    At 12:49 PM, the share price was trading at Rs 855.45 per share on the NSE, down 9.98 percent, while intraday, the stock slumped 12.31 percent to its day’s low at Rs 833. This year, the stock jumped over 12 percent and in last one year, it rose nearly 30 percent.
    UPL
    The brokerage house said, “Soyabean demand and pricing are likely to remain under pressure due to the as-yet unresolved US-China trade tensions, events like ASF and the rising US exports to the EU and other countries, which could keep Brazil price premiums in check, unlike in 2018.”
    About 35 percent of UPL’s overall revenues come from Brazil and other Latin American regions. This year, the Brazil exports have already declined 9 percent. UPL appears to be at risk due to its global diversified exposure, added the report.
    The research house maintained ‘buy’ call on the stock with an unchanged target price at Rs 1,220.
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