This Article is From Sep 23, 2014

UPL Gains After Rival Sharda Cropchem Surges on Debut

UPL Gains After Rival Sharda Cropchem Surges on Debut

UPL Ltd gained 1.6 per cent on Tuesday.

Gains come after rival Sharda Cropchem surged as much as 75.6 per cent to Rs 274 from its IPO price of Rs 156.

UPL traded at 11.7 times 12-month forward earnings; while traders estimate Sharda's IPO got priced at 13-14 times.

Copyright: Thomson Reuters 2014

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