Astrazeneca stock down over 9% as board defers delisting offer

Shares of Astrazeneca Pharma India today plunged over 9 per cent after the Indian arm of Swedish drug maker AstraZeneca Pharmaceuticals AB, deferred its delisting from the stock exchanges.
Astrazeneca Pharma's scrip ended the day 9.31 per cent lower at Rs 1,064.35 on the BSE. During the day, the stock tanked 9.85 per cent to Rs 1058.
At the NSE, the scrip fell sharply by 8.89 per cent to close at Rs 1,071.05.
The stock had rallied nearly over 50 per cent in the last six trading sessions.
In a post market announcement to the BSE yesterday, Astrazeneca 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.