Astrazeneca Pharma India surges on delisting proposal

Shares in Astrazeneca Pharma India Ltd surge 20 percent to their maximum daily limit after the drug maker says its board would meet on Wednesday to discuss delisting proposal.

AstraZeneca Pharma India said in the filing before markets opened on Monday that its board received a request from its promoter, AstraZeneca Pharmaceuticals AB Sweden, to initiate a voluntary delisting process.

Astrazeneca Pharmaceuticals AB holds 75 percent in AstraZeneca Pharma India.

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