Aurobindo Pharma gains day after ED action in Delhi excise policy case

Shares of Aurobindo Pharma rose nearly 3 per cent in early trade on Friday, a day after touching a 52-week low following the arrest of one of its directors by the Enforcement Directorate.

The scrip jumped to Rs 492.10 on the BSE after opening at Rs 481.50. It touched an intra-day high of Rs 496.95.

On Thursday, it had touched a 52-week low of Rs 464.20 after one of its directors P Sarath Chandra Reddy was arrested by the Enforcement Directorate in connection with the Delhi excise policy case.

The scrip had closed at Rs 481.50 on the BSE on Thursday.

Recovering the lost ground, the company's shares were trading in the green on the BSE as well as NSE on Friday morning.

On the NSE, the scrip climbed more than 3 per cent to Rs 492.80. After opening at Rs 485, it had touched an intra-day high of Rs 497.

The 30-share Sensex surged nearly 1,000 points in the morning trade to 61,609.92 points.

On Thursday, the drug maker informed the bourses that the "arrest of P Sarath Chandra Reddy, Whole Time Director/ Promoter Group of the company is not in anyway connected with the operations of Aurobindo Pharma Ltd or its subsidiaries".