UPL has clarified a news item regarding a meeting between a Karnataka Minister and UPL’s CEO during the World Economic Forum (WEF). UPL states the meeting occurred on the sidelines of WEF. There was no formal negotiation or agreement signed. Discussions focused on Karnataka’s expectations for UPL to expand operations and improve farm productivity in the State. No information requiring stock exchange notification arose.
Clarification on WEF Meeting
UPL has issued a clarification concerning a news item about a meeting between a Karnataka Minister and UPL’s CEO at the World Economic Forum (WEF) in Davos. The company’s statement aims to address potential speculation arising from the report.
Details of the Meeting
According to UPL, the meeting took place on the sidelines of the 56th World Economic Forum (WEF) Annual Meeting. The discussion centered on the Karnataka government’s desire for UPL to increase its presence in the state to enhance agricultural productivity.
No Formal Agreements
UPL explicitly states that no formal negotiation or agreement was signed between the company and the Karnataka Government during this meeting. The interaction primarily involved an exchange of expectations and potential opportunities.
Impact on Stock Exchange
UPL emphasizes that the discussions did not lead to any information that would require an announcement to the stock exchanges. Consequently, the company believes there is no basis for speculation about any impact on its share price. The company refrains from commenting on share price movements.
Source: BSE
