Astrazeneca back in reckoning

Astrazeneca Pharma is back in the limelight. The stock is up almost 8.5% at Rs.1155, with an intra day high at Rs.1169.80.

A few days ago the stock had spurted up to a new high after the company had announced delisting and then it tanked into the red when on 5^th March, the company stated that it had decided to defer the delisting plan and seek more details on it from the parent company. Now yesterday it has issued a statement that its Board will be meeting on 15^th March to once again consider the delisting proposal.

There is no news on what additional information the Board had wanted on 5^th March when the Board had deferred the delisting proposal. For now, the market is just happy that the delisting proposal is back and the stock price is rallying in anticipation of the expected delisting price.