Australian court dismisses class action case against Advanta Seeds Pty Ltd., a subsidiary of UPL

Advanta Seeds management can confirm that the Queensland Supreme Court has today ruled in favour of Advanta Seeds. We are pleased with the decision.

Our team has continued to work closely with growers in the interests of improved crop productivity and farm management.

Advanta Seeds began in Central Queensland almost 60 years ago and we're extremely proud of the contribution we've made to crop farming across Australia.

We invest heavily in research and development and continue to pioneer industry-leading practices and new seed products. Perhaps our greatest achievement though is the partnerships we've established with our growers.

Even while this case was proceeding, we continued to create new products in response to grower needs and to provide support to growers to improve their on-farm practices and improve yields.

From here, we intend to continue to invest in research, technology and new products and support those hardworking farming businesses who are the backbone of Australia's agricultural sector.

We respect the 28-day period that the plaintiffs now have to consider whether to appeal this decision. Given this, we will not be making any further comment regarding the case at this time.

Shares of UPL Limited was last trading in BSE at Rs.590.05 as compared to the previous close of Rs. 634.9. The total number of shares traded during the day was 319112 in over 8954 trades.

The stock hit an intraday high of Rs. 626.65 and intraday low of 581.7. The net turnover during the day was Rs. 191613745.

Source : Equity Bulls

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