Aurobindo Pharma gains 3% in early trade a day after touching a 52-week low

Market


New Delhi: A day after touching a 52-week low following the arrest of one of its directors by the Enforcement Directorate (ED), shares of Aurobindo Pharma rose nearly 3 per cent in early trade on Friday,

Recovering the lost ground, the company’s shares were trading in the green on the BSE as well as NSE on Friday morning.

The scrip jumped to 492.10 on the BSE after opening at 481.50. It touched an intra-day high of 496.95.

On the NSE, the scrip climbed more than 3 per cent to 492.80. After opening at 485, it had touched an intra-day high of 497.

On Thursday, it had touched a 52-week low of 464.20 after one of its directors P Sarath Chandra Reddy was arrested by the Enforcement Directorate in connection with the Delhi excise policy case.

The scrip had closed at 481.50 on the BSE on Thursday.

On Thursday, the drug maker informed the bourses that the “arrest of P Sarath Chandra Reddy, Whole Time Director/ Promoter Group of the company is not in anyway connected with the operations of Aurobindo Pharma Ltd or its subsidiaries”. 

Aurobindo makes a range of medicines from antibacterials to antidepressants.

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