A day after reaching a 52-week low following the arrest of one of its directors by the Enforcement Directorate, shares of Aurobindo Pharma increased by almost 3% in early trading on Friday.
The stock increased from Rs.481.50 to Rs.492.10 on the BSE. It reached a day’s high of Rs.496.95.
It had reached a 52-week low of Rs.464.20 on Thursday following the arrest of one of its directors, P Sarath Chandra Reddy, by the Enforcement Directorate in connection with the Delhi Excise Policy Case.
On Thursday, the stock’s BSE closing price was Rs.481.50.
The company’s shares were gaining back lost ground on Friday morning, trading in the green on both the BSE and NSE.
The stock increased by more than 3% to 492.80 on the NSE. It reached an intraday high of Rs.497 after starting the day at Rs.485 dollars.
In the morning trade, the 30-share Sensex increased by almost 1,000 points, reaching 61,609.92 points.
The pharmaceutical company informed the stock exchanges on Thursday that P Sarath Chandra Reddy’s arrest “is not in any way related to the operations of Aurobindo Pharma Ltd. or its subsidiaries.”