Astrazeneca Pharma shares plunge over 6% ahead of board meet

Shares of Astrazeneca Pharma India today fell by over 6 per cent on profit-taking ahead of the company's board meet later in the day to consider a proposal by promoter AstraZeneca Pharmaceuticals AB Sweden to delist it.
Astrazeneca's stock tanked 5.26 per cent to close at Rs 1,173.65 on the BSE. In intra-day, the stock slumped 8.62 per cent to Rs 1,132.
At the NSE, the scrip lost 6.15 per cent to settle at Rs 1,165.
Meanwhile, in a post market announcement to the BSE, the company said, "The Board of Directors met on March 5, 2014 to consider the delisting proposal. After discussion, it was decided to seek additional information from the promoter - AstraZeneca Pharmaceuticals AB, Sweden (AZP AB). Pending receipt of such additional information, consideration of the promoter's letter dated March 1, 2014 was deferred.