Meanwhile, the S&P BSE Sensex was down 134.62 points, or 0.45% to 29,514.37.

On the BSE, 18,000 shares were traded in the counter so far, compared with average daily volumes of 24,421 shares in the past one quarter. The stock had hit a high of Rs 1,851 and a low of Rs 1,805.55 so far during the day. The stock hit a record high of Rs 2,150 on 28 October 2016. The stock hit a 52-week low of Rs 1,311.75 on 29 March 2016.

The stock had underperformed the market over the past one month till 17 March 2017, rising 1.41% compared with 4.76% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.07% as against Sensex's 11.93% rise.

The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.

The board of Ajanta Pharma considered and approved the amalgamation of Gabs Investments (Gabs) with Ajanta Pharma (APL) in consideration for equity shares of APL. The proposed amalgamation would be carried out vide a scheme of amalgamation and arrangement between Gabs Investments and Ajanta Pharma and their respective shareholders (the scheme).

APL is in the business of manufacture and pharmaceuticaI products wortdwide. Gabs is in the business of making investments shares and primarity holds shares of APL. As on date, Gabs holds 83.92 lakh shares in APL, representing about 9.54% of the total paid up capital of APL.

On a consolidated basis, net profit of Ajanta Pharma rose 25.15% to Rs 142.60 crore on 9.68% rise in net sales to Rs 515.02 crore in Q3 December 2016 over Q3 December 2015.

Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages.