AstraZeneca Pharma tanks nearly 7% ahead of board meeting on delisting price

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AstraZeneca Pharma tanks nearly 7% ahead of board meeting on delisting price
Shares of drug maker AstraZeneca Pharma India plunged nearly 7 per cent in early trade on Bombay Stock Exchange (BSE) ahead of board meeting today to decide on the delisting price.

The decision comes a year after AstraZeneca shelved its plan to go private and instead diluted its stake from 90 per cent to 75 per cent to meet the minimum shareholding limit set by market regulator Sebi, according to ET report.

Weighed down by development, shares of company declined as much as 6.68 per cent to trade at Rs 1156.00 a piece on the BSE.

In a similar fashion, shares of the company slipped 1.26 per cent to Rs 1,225.80 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 21,263.94, up 54.21 points or 0.26 per cent at 10:00 hours.

Dion Global Solutions Ltd.

Story first published: Wednesday, March 5, 2014, 12:47 [IST]
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