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AstraZeneca surges 7.5% as board okays delisting

Shares in AstraZeneca Pharma India surged as much as 7.6 per cent on Tuesday after the company says its board approved a proposal from promoter AstraZeneca Pharmaceuticals AB, Sweden to delist the company from India.

Shares in AstraZeneca were up nearly 4 per cent at 1.09 p.m. The stock hit a 52-week high of Rs 1,286 on March 4, since the company first announced the delisting proposal, and has gained 30.4 per cent so far this month.

Copyright: Thomson Reuters 2014