UPL does a 'class' act!

UPL, in the morning trades did pretty well, opening slightly higher but soon rising over 3% higher to hit an intraday high at Rs.623.85. Its 10% UC for the day is at Rs.664.85 and its 52-week high is at Rs.673.85.

It’s a huge relief for the company as the Supreme Court of Queensland, Australia, dismissed a class action litigation against Advanta Seeds, UPL's subsidiary in Australia.

This class action, funded by a UK based litigation funder, alleged that seeds sold by Advanta in 2010/2011 to certain growers in Queensland and News South Wales region of Australia, were contaminated.