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Mar 06, 2013, 07.51 PM IST | Source: Moneycontrol.com

AstraZeneca Pharma down 15% on stake dilution news

AstraZeneca Pharma fell nearly 15 percent to touch a 52-week low of Rs 711.20 in early trade on Wednesday after the company said its promoter AB Sweden decided to reduce stake in the company.

Ushang Sheth

Research Analyst, CNBC-TV18

More about the Expert...

AstraZeneca Pharma fell nearly 15 percent to touch a 52-week low of Rs 711.20 in early trade on Wednesday after the company said its promoter AB Sweden decided to reduce stake in the company.

The stock recovered in late afternoon trade and gained more than 9 percent to Rs 910.20 but it could not sustain gains for long and turned lower again in last couple of hours of trade.

The dilution of shareholding is for complying minimum public shareholding norms set by SEBI.

Parent company's current shareholding in company stands at 89.99 percent.

At 15:05 hours IST, shares fell 7.26 percent to Rs 773.20 amid hefty volumes on Bombay Stock Exchange.

Trading volumes increased 53 times to 4,59,032 equity shares as against five-day average of 8,684 shares

In the previous trading session too, the stock dropped 3.38 percent to Rs 833.75.

AstraZeneca stock price

On October 23, 2014, AstraZeneca Pharma closed at Rs 840.10, up Rs 7.60, or 0.91 percent. The 52-week high of the share was Rs 1285.00 and the 52-week low was Rs 725.85.


The latest book value of the company is Rs 68.64 per share. At current value, the price-to-book value of the company was 12.24.

READ MORE ON  AstraZeneca Pharma, AB Sweden
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