Meanwhile, the BSE Sensex was down 68.61 points, or 0.40%, to 17,294.26.

On BSE, 76,000 shares were traded in the counter as against an average daily volume of 3,143 shares in the past one quarter.

The stock hit a high of Rs 2,489 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 2,205 so far during the day. The stock had hit a 52-week low of Rs 1,081 on 10 March 2011.

The stock had outperformed the market over the past one month until 5 March 2012, rising 26.27% compared with the Sensex's 1.38% fall. The scrip had also outperformed the market in past one quarter, gaining 69.62% as against 3.32% rise in the Sensex.

The mid-cap drug maker has an equity capital of Rs 5 crore. Face value per share is Rs 2.

Report suggested that the UK-based was in talks with top investment banks, including Morgan Stanley and JM Financial, has likely appointed Merrill Lynch as the manager for the delisting.

AstraZeneca Pharmaceuticals AB Sweden held 90% of AstraZeneca Pharma India as at 31 December 2012.

Several foreign companies in the recent past have initiated plans to delist from Indian stock exchanges due to increasing compliance requirements. As per regulations, global parents will have to reduce promoter's stake to below 75% if they fail to delist their Indian units before June 2013.

AstraZeneca Pharma India's net profit dropped 47.2% to Rs 14.94 crore on 13% increase in net sales to Rs 145.16 crore in Q3 December 2011 over Q3 December 2010.

AstraZeneca Pharma India offers an integrated approach to the discovery, development and marketing of medicines.