Meanwhile, the BSE Sensex was up 248.24 points, or 1.32%, to 19,090.32.

On BSE, 14,000 shares were traded in the counter as against an average daily volume of 9,012 shares in the past one quarter.

The stock hit a high of Rs 1,525 and a low of Rs 1,449.50 so far during the day. The stock had hit a record high of Rs 2,649 on 12 April 2012. The stock had hit a 52-week low of Rs 1,209.95 on 29 December 2011.

The stock had underperformed the market over the past one month till 27 November 2012, falling 2.55% compared with the Sensex's 1.16% rise. The scrip had also underperformed the market in past one quarter, sliding 16.08% as against Sensex's 6.58% rise.

The mid-cap company has an equity capital of Rs 5 crore. Face value per share is Rs 2.

According to reports, the Intellectual Property Appellate Board (IPAB) has dismissed the appeal filed by Astrazeneca Pharma India challenging an earlier order refusing patent protection for cancer drug Gefitinib, used in treatment of breast, lung and other cancers. The IPAB ruled that the molecule from AstraZeneca lacked invention, reports suggested.

An Indian law amended in 2005 ensures patent protection for new drug compounds, but is reluctant to recognise new forms of existing medicines. Multinational pharma companies contend that Indian authorities have taken a narrow definition of the term invention, reports added.

AstraZeneca Pharma India reported net loss of Rs 45.12 crore in Q2 September 2012 as against a net profit of Rs 21.08 crore in Q2 September 2011. Net sales declined 33.23% to Rs 99.23 crore in Q2 September 2012 over Q2 September 2011.

AstraZeneca is one of the world's leading pharmaceutical companies, with a broad range of medicines designed to fight disease in important areas of healthcare. AstraZeneca Pharma India is involved in both the manufacturing and marketing of medicines.