MUMBAI: Shares of agrochemicals major UPL Ltd surged 15% on Wednesday trade after the company reassured investors about demand and business operations.
In a statement to the stock exchanges, UPL said demand for crop protection products remains strong and all its factories around the world are in operation. “In most countries, our crop protection and seeds businesses have been classified as an ‘essential commodity’, at par with medical equipment, special protective clothing, medicines, and the food chain," Diego Lopez Casanello, global chief operating officer, UPL, said in a statement.
The comments come amid the proposed relaxation of lockdown norms for manufacturing, distribution and retail of fertilizers and pesticides from 20 April in