Hot Pursuit     29-Jun-10
AstraZeneca Pharma hits record high on delisting plan
AstraZeneca Pharma India hit upper circuit limit of 20% at Rs 1,207.05 on BSE after the company said its board will meet today, 29 June 2010, to consider delisting its shares from the stock exchanges.

The announcement was made before trading hours today, 29 June 2010.

Meanwhile, the BSE Sensex was down 64.39 points, or 0.37%, to 17,707.87.

On BSE, 1,607 shares were traded in the counter as against an average daily volume of 1,586 shares in the past one quarter.

Today's high of Rs 1,207.05 is a record high for the counter. The scrip hit a 52-week low of Rs 570.10 on 13 July 2009.

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

Parent firm AstraZeneca Pharma AB holds 89.99% stake in AstraZeneca Pharma India. The parent has sought delisting of the Indian unit as per the Securities & Exchange Board of India (Sebi) delisting norms.

AstraZeneca Pharma India's net profit fell 64.10% to Rs 2.61 crore on 19.20% increase in net sales to Rs 92.28 crore in Q1 March 2010 over Q1 March 2009.

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