MUMBAI: The stock of UPL Ltd has been popular with investors in recent years, with the company expanding in global markets to hedge its exposure to the Indian market.
But with covid-19 pandemic disrupting global trade, the company’s overseas exposure has worried investors. The share price has halved from its February high.
Sharda Cropchem Ltd, another company that derives majority of its revenues from overseas, has lost 55% in value. In comparison, stocks of companies focussed on the domestic market such as Rallis India Ltd and Dhanuka Agritech Ltd have declined 31-36%. “Our channel checks suggest that shipments have halted due to logistics issues in India and respective import countries.