AstraZeneca Pharma India jumped 5.20% to Rs 1,109 at 12:12 IST on BSE on reports US-based Pfizer has approached London-based AstraZeneca PLC for a 60 billion pound takeover.
Meanwhile, the BSE Sensex was up 72.25 points, or 0.32%, to 22,701.09.
On BSE, so far 19,000 shares were traded in the counter, compared with an average volume of 22,563 shares in the past one quarter.
The stock hit a high of Rs 1,123 and a low of Rs 1,080 so far during the day. The stock hit a 52-week high of Rs 1,285 on 4 March 2014. The stock hit a 52-week low of Rs 634 on 6 August 2013.
The stock had underperformed the market over the past one month till 17 April 2014, falling 9.11% compared with the Sensex's 3.76% rise. The scrip had, however, outperformed the market in past one quarter, rising 35.91% as against Sensex's 7.43% rise.
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The mid-cap company has an equity capital of Rs 5 crore. Face value per share is Rs 2.
Shares of Pfizer, the Indian unit of US pharmaceutical giant Pfizer Inc, rose 2.96% to Rs 1,268.90.
According to reports, Pfizer Inc. considered buying London-based AstraZeneca PLC in informal talks held several months ago. The now-discontinued talks were first reported on Sunday by a media report, which cited sources who said a takeover had been discussed that would have valued AstraZeneca at more than 60 billion pounds ($101 billion).
As on 31 March 2014, AstraZeneca held 75% stake in AstraZeneca Pharma India.
Astrazeneca Pharma India reported a net profit of Rs 1.52 crore in Q3 December 2013 as against net loss of Rs 17.70 crore in Q3 December 2012. Net sales rose 13.3% to Rs 118.88 crore in Q3 December 2013 over Q3 December 2012.
AstraZeneca Pharma India is one of the leading pharmaceutical companies, with a broad range of medicines designed to fight disease in important areas of healthcare. The company is involved in both manufacturing and marketing of medicines.
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