UPL

** Shares of agrochemicals maker UPL UPLL.NS jump 3.7% to 626.2 rupees, eye their biggest one-day gain in nearly four years, if current trend holds

** At least 10 brokerages have hiked price targets on UPL stock following strong Q3 results on Friday, and three raised ratings - LSEG data

** Investec says UPLL reported Q3 EBITDA margin at 19.8%, beating their estimate of 18% on favourable products mix, normalisation of rebate to dealers, improvement in prices

** Brokerage ups PT by ~56% to 700 rupees - a 16% premium on last close; raises rating to "buy" from "sell"

** Jefferies says business normalisation, recovery of volumes and prices drove Q3 growth

** Raises PT by 10% to 710 rupees; retains "buy"

** Over 7.2 mln shares traded, 3.4x the 30-day avg

** UPLL stock rated "buy" on avg, same as peer Dhanuka Agritech DHNP.NS, while Rallis India RALL.NS rated "sell" - LSEG data

** YTD, UPLL stock up ~25%, while DHNP and RALL down 5.3% and ~20%, respectively

(Reporting by Manvi Pant in Bengaluru)

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Jan 31 (Reuters) - UPL Ltd UPLL.NS:

• Q3 CONSOL NET PROFIT 8.28 BILLION RUPEES; IBES PROFIT EST. 2.13 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 109.07 BILLION RUPEES; IBES EST. 108.81 BILLION RUPEES

Source text: ID:nnAPN2LV0K9

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** Shares of UPL UPLL.NS rise as much as 3% to 563.25 rupees

** Agrochemicals maker on Tuesday said Alpha Wave Global will invest $350 mln for ~12.5% stake in unit Advanta Enterprises

** Also, UPL on Wednesday said it plans to raise up to 33.78 bln rupees ($400 mln) via rights issue of 9.4 mln shares at 360 rupees/shr

** More than 7.2 mln shares change hands, 3.3x of 30-day avg

** Stock last up 2.8%, cutting YTD loss to 4.3%

($1 = 84.4420 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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Nov 20 (Reuters) - UPL Ltd UPLL.NS:

• RIGHTS ISSUE PRICE SET AT 360 RUPEES PER SHARE

Source text: ID:nBSE6cjXpR

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Nov 19 (Reuters) - UPL Ltd UPLL.NS:

• UPL LIMITED - INVESTMENT BY ALPHA WAVE IN ADVANTA

• UPL LTD - APPROVES SALE OF 8.93% STAKE IN AEL FOR $250 MILLION

• UPL LTD - APPROVES AEL'S FUNDRAISING OF $100 MILLION FROM ALPHA WAVE

Source text: ID:nRSS8672Ma

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** 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)

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Nov 11 (Reuters) - UPL Ltd UPLL.NS:

• UPL LTD - PRICING PRESSURE TO BE OFFSET BY LOWER INPUT COST IN H2 FY25 FOR KEY AIS

• UPL - SEES CONTINUED STRONG FARMGATE DEMAND, WITH SOME HEADWINDS DUE TO LOWER FARMGATE PRICING

Source text: ID:nBSE2swmfy

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Sept 4 (Reuters) - UPL Ltd UPLL.NS:

• TO EXPLORE VARIOUS OPTIONS OF UNLOCKING VALUE AT ADVANTA ENTERPRISES

• EXPLORING UNLOCKING VALUE IN ADVANTA BY RAISING FUNDS

Source text for Eikon: ID:nBSE4JjJwG

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Sept 3 (Reuters) - UPL Ltd UPLL.NS:

• ACQUISITION OF ADVANTA HOLDINGS (THAILAND) BY UNIT

Source text for Eikon: ID:nNSE1wrrhW

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Aug 7 (Reuters) - UPL Ltd UPLL.NS:

• UPDATE ON CLASS ACTION SUIT FILED AGAINST ADVANTA SEEDS IN AUSTRALIA

• HIGH COURT OF AUSTRALIA DECIDED MATTER IN FAVOUR OF ADVANTA

Source text for Eikon: ID:nBSE6hjVnV

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Aug 2 (Reuters) - UPL Ltd UPLL.NS:

• UPL Q1 CONSOL NET LOSS 3.84 BILLION RUPEES; IBES LOSS EST. 3.48 BILLION RUPEES

• UPL Q1 CONSOL REVENUE FROM OPERATIONS 90.67 BILLION RUPEES; IBES EST. 88.27 BILLION RUPEES

Source text for Eikon: [ID:]

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May 16 (Reuters) - UPL Ltd UPLL.NS:

• INCORPORATION OF A STEP-DOWN SUBSIDIARY IN DUBAI, UNITED ARAB EMIRATES

Source text for Eikon: ID:nNSE9NX5Hm

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** Shares of Agrochemicals maker UPL UPLL.NS down 5.3% at 505.60 rupees, its biggest intraday fall since Feb. 5

** UPLL top loser in Nifty mid-cap index .NIFMDCP100, which is up 0.6%

** Co reported a slump in Q4 profit, while net debt surged

** Estimate industry headwinds to persist in FY25, Jefferies said in a note

** Brokerage cuts FY26 EPS by ~8%, see profit below tax loss in Q1FY25

** Stock down ~14% YTD vs 8.3% rise in Nifty mid-cap index

(Reporting by Sethuraman NR in Bengaluru)

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BENGALURU, May 13 (Reuters) - Agrochemicals maker UPL UPLL.NS reported a surprise quarterly profit on Monday as revenue fell less than expected amid inventory destocking, sending its shares up 6.4%.

The herbicide and insecticide maker said revenue from operations fell about 15% to 140.78 billion rupees, marking its fourth straight quarter of decline due to inventory destocking and soft demand, but beat Street expectations of 122.39 billion rupees, according to LSEG data.

Volumes recovered compared to the third quarter, largely led by strong sales of the company's high-margin sustainable agriculture portfolio, which contributed to 36% of its crop protection revenue versus 29% last year, UPL said.

That helped UPL post a net profit of 400 million rupees ($4.8 million) for the quarter ended March 31, compared with analysts' expectations of a loss of 3.33 billion rupees. The company reported a profit of 7.92 billion rupees a year ago.

UPL said it expects 4%-8% growth in revenue in fiscal 2025 and earnings before interest, tax, depreciation and amortization (EBITDA) growth of more than 50% for the period.

Agrochemical and fertilizer companies in India, including Coromandel International CORF.NS and SRF SRFL.NS, faced a lackluster fourth quarter, largely due to destocking of inventory - the process of emptying out excess inventory levels following low demand.

Water shortages in southern India also contributed to the overall lack of demand.

"We expect a return to growth and normalization in margins driven by the agchem market returning to normality in fiscal 2025," said Mike Frank, chief executive of UPL Corporation, UPL's Mauritius-based unit.

Analysts are optimistic about the fiscal 2025 outlook for domestic agri-input firms on expectations of a better monsoon and higher nutrient-based subsidy - a government programme that subsidises fertilisers depending on their nutrient content - in the first half of 2025.

($1 = 83.5061 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman and Sonia Cheema )

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May 1 (Reuters) - UPL Ltd UPLL.NS:

• MANISH SIROHI APPOINTED AS CHIEF EXECUTIVE OFFICER OF DECCO WW

Source text for Eikon: ID:nPre9HWV3a

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** Brokerage HSBC downgrades Tata Chemicals TTCH.NS to "reduce" from "hold", flags weak fundamentals in soda ash segment and elevated valuations

** TTCH ends session ~4% lower, extending declines from Friday

** Expect volume- and pricing-led pressure to impact Q4 results for UPL UPLL.NS and Rallis India RALL.NS, leading to 6%-25% rev declines, brokerage says

** Retains "buy" on UPL, "reduce" on RALL; avg rating on UPLL, RALL, TTCH are "buy", "hold" and "sell" respectively - LSEG

** Adds domestic agri-chem companies likely fared better, "prefers" PI Industries PIIL.NS and Dhanuka Agritech DHNP.NS

** Sector to revive in H2CY24 after "disrupted" 2023, led by lower inventory, stable prices - HSBC

** UPLL, RALL, PIIL, DHNP close down between 1.12%-2.6%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of UPL UPLL.NS fall as much as 5% to 450.25 rupees, their lowest since December 2020

** Reuters could not immediately verify a reason for the stock move

** Stock last down 4.4%, on track for third straight session of decline

** At least 20 analysts have cut PT on "buy"-rated stock since it posted a Q3 loss on Feb. 2 - LSEG

** Median PT 565 rupees vs. 684.50 rupees 2 months ago - LSEG

** Stock down ~23% YTD, on track for third straight annual decline

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of UPL UPLL.NS up 1.7%

** Stock rose as much as 2.7% to day's high of 485.95 rupees

** Agriculture chemicals maker said its unit and Saudi Arabia-based investment co Masarrah Investment Company (MIC) signed a share subscription agreement for establishing a manufacturing complex in Saudi Arabia

** Manufacturing complex for the production of phosphate, cyanide, and chlorine value-added products

** UPL on track to snap two consecutive weeks of losses, if trends hold

** Stock down 18% so far this year

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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March 6 (Reuters) - UPL Ltd UPLL.NS:

• UNIT ENTERED INTO SHARE SUBSCRIPTION AGREEMENT WITH MASARRAH INVESTMENT CO TO SET UP MANUFACTURING COMPLEX IN SAUDI ARABIA

Source text for Eikon: ID:nBSEcfLY7f

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** Shriram Finance shares SHMF.NS up 1.5% set to snap 2-day losing streak; benchmark Nifty 50 .NSEI flat

** UPL UPLL.NS off 0.5%, falling for 3rd session in a row

** NBFC Shriram Finance to replace agrochemical company UPL in Nifty, effective March 28

** SHMF rose as much as 4.5% earlier in the sessionand UPL dropped nearly 2%, before pulling back

** Nuvama estimates SHMF to see net inflow of over $200 mln, equivalent to a 6-day volume impact and 7.1 mln shares

** Estimates UPL to see outflow of $100 mln, equivalent to a 3.5-day volume impact and 17.5 mln shares

** SHMF up 15.6% YTD, UPLL down ~20% vs Nifty's 0.6% rise

(Reporting by Rama Venkat in Bengaluru)

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BENGALURU, Feb 28 (Reuters) - Non-banking finance firm Shriram Finance SHMF.NS will replace agrochemical company UPL UPLL.NS on the blue-chip Nifty 50 index .NSEI, effective March 28, the National Stock Exchange of India said on Wednesday.

The change is part of a periodic review of broad market indices.

UPL has been removed from the blue-chip index after its exclusion from the Nifty 100, a parent index for the Nifty 50, the NSE said in a statement.

Shriram Finance has the highest six-month average free-float market capitalization among all stocks eligible to replace UPL, the statement said.

Shares of Shriram Finance rose as much as 2.8% in the day before closing 1% lower in a weak market. UPL closed down 1.8%.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Shilpi Majumdar)

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Feb 21 (Reuters) - UPL Ltd UPLL.NS:

• UPL LTD - INCORPORATION OF A UNIT IN HUNGARY

Source text for Eikon: ID:nBSE7Q12J4

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BENGALURU, Feb 5 (Reuters) - India's Tata Chemicals TTCH.NS reported a decline in profit for the third successive quarter on Monday, hurt by lower soda ash prices and soft demand.

Soda ash, the company's largest business, suffered last year as falling caustic soda prices made it more appealing than soda ash for the silicate market, prompting it to cut prices to stay competitive.

The segment comprises about two-thirds of its total sales volume, with the U.S. being its largest market.

Consolidated net profit fell 60% from the previous year to 1.58 billion rupees ($19 million) in the three months ended Dec. 31.

The Tata Group-owned company had cut prices of its key products light and dense soda ash twice last year - by 3%-4% in April and about 5.5% in August. The combined price cuts eroded its revenue in the latest quarter.

Meanwhile, soda ash sales volume fell about 10% in the quarter, leading to a proportionate decline in total revenue to 37.30 billion rupees.

Sales of salt, which accounts for about a third of Tata Chemicals' total sales volume, remained largely unchanged.

The demand was challenging in the container glass and flat glass sectors in Europe and the Americas, which led to pressure on volumes and prices, Managing Director and CEO R. Mukundan said in a statement.

Tata Chemicals supplies raw materials to the glass, detergent, industrial and chemical sectors.

Last week, larger rival UPL UPLL.NS reported a quarterly loss, hurt by weak demand and destocking issues.

($1 = 83.0120 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Dhanya Ann Thoppil)

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Feb 2 (Reuters) - UPL Ltd UPLL.NS:

• Q3 CONSOL NET LOSS 12.17 BILLION RUPEES

• Q3 CONSOL REV FROM OPS 98.87 BLN RUPEES

• YR AGO Q3 CONSOL NET PROFIT 10.87 BLN RUPEES, REV 136.79 BLN RUPEES

Source text for Eikon: [ID:]

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UPL Ltd UPLL.NS:

• UPL LTD- EXPECTS TO INVEST APPROX. USD 1 MN UPL ARABIA

Source text for Eikon: ID:nBSE9DzZLL

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Dec 22 (Reuters) - UPL Ltd UPLL.NS:

• APPROVED PROPOSAL FOR FUND RAISING FOR AN AMOUNT AGGREGATING UPTO 42 BILLION RUPEES

• FUND RAISE VIA ISSUE OF SHARES ON RIGHTS ISSUE BASIS

Source text for Eikon: ID:nBSEbbjPNH

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BENGALURU, Nov 10 (Reuters) - India's Tata Chemicals TTCH.NS posted a 32% slide in second-quarter profit on Friday, hurt by lower soda ash prices and soft demand.

The Tata Group-owned company's consolidated net profit fell to 4.28 billion rupees ($51.4 million) in the quarter ended Sept. 30, from 6.28 billion rupees a year earlier.

Revenue from operations dropped 5.7% to 39.98 billion rupees, weighed down a 3.7% drop in its basic chemistry products segment, its biggest, and which includes soda ash, sodium bicarbonate, calcium chloride.

"Demand environment for soda ash in domestic markets in India and U.S. was stable. In other markets, softness was observed, especially in container glass and flat glass sectors, leading to pricing pressure," Managing Director and CEO R. Mukundan said in a statement.

Tata Chemicals supplies to the glass, detergent, industrial and chemical sectors.

In August, the company lowered domestic soda ash prices to 30,500 rupees per metric ton for light soda ash, from 32,300 rupees, and to 31,000 rupees per metric ton for dense soda ash, from 32,800 rupees.

In the previous quarter, the Mumbai-based company had said that a sharp fall in caustic soda prices had led to the silicate market switching to caustic soda from soda ash.

Last month, its bigger peer UPL Ltd UPLL.NS posted an unexpected quarterly loss due to weak demand, channel destocking and competition from China.

Tata Chemicals' shares settled 0.51% higher ahead of its results. They have gained nearly 3% so far this year, while UPL's shares have slid nearly 24%.

($1 = 83.2940 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Savio D'Souza)

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** Shares of agriculture chemicals producer UPL UPLL.NS up 0.4% ahead of its Q2 results

** Analysts, on avg, expect consolidated profit to fall ~43% and revenue to fall ~12% - LSEG data

** Analysts at Jefferies expect a weak FY24 for UPL due to competition from Chinese post-patent players and oversupply

** Prabhudas Lilladher expects subdued performance in Q2 with growth expected to be in the mid-single to low double digits YoY, due to delayed monsoon

** Nineteen of 25 analysts have a "buy" or "strong buy" rating, five "hold" while one rates it "sell" or "strong sell"; median PT is 800 rupees - LSEG data

** UPL fell over 10.4% in Sept-qtr, underperforming Nifty 50 index .NSEI which gained 2.3%

(Reporting by Anuran Sadhu in Bengaluru)

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** Global brokerage Jefferies sees weak Q2 for India's UPL UPLL.NS due to lower crop prices, oversupply and competition from China

** Shares of agricultural chemicals co currently down 0.6%, taking YTD losses to around 13%

** Brokerage sees muted FY24 with Y/Y sales and core profit flattish, both lower than Q1 guidance

** "Muted crop prices could continue to drag farmer's income, impacting agro-chemicals offtake," Jefferies adds

** Expects gradual recovery in co's sales growth, margins after FY24

** Maintains "buy" rating with PT 800 rupees

** Mean recommendation of 25 analysts is "buy"; median PT 800 rupees - LSEG data

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of UPL Ltd UPLL.NS rise as much as 3.65% after as Antique Stock Broking upgrades rating and PT for co

** Stock upgraded to 'buy' from 'hold' with revised PT of 780 rupees, an upside of 28% from Wednesday's close, from 650 rupees earlier

** Stock among top pct gainers on Nifty 50 .NSEI

** Improving macro situation - stabilizing product price and receding channel inventory, and correction in stock price by ~18% since March 2023 - Antique

** Broker says expects agrochemicals firm’s revenue and EBITDA growth to rise in 2HFY24 as high channel inventory situation improves as prices have stabilized since June 2023

** Also expects margin expansion YoY in 2HFY24 aided by liquidation of high-cost inventory, lower RM prices, lower base in 4QFY23

** Stock cuts YTD losses to ~12.2% from ~15.1% as of last close

(Reporting by Aleef Jahan in Bengaluru)

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