Aurobindo stock crashes 12% after director's arrest
The Times of India|November 11, 2022
Hyderabad-based pharma major Aurobindo Pharma’s stock crashed 12% to a 52-week low of Rs 464 on the BSE on Thursday after news broke about the arrest of its whole-time director and promoter group Penaka Sarath Chandra Reddy by the Enforcement Directorate (ED) in the Delhi excise policy case.
Swati Bharadwaj
Aurobindo stock crashes 12% after director's arrest

Hyderabad: The crash wiped out nearly Rs 3,709 crore in Aurobindo’s market capitalisation, which fell from Rs 31,721 crore on November 9 to Rs 28,011 crore on Thursday. The scrip sank over 12% in afternoon trade to the year’s nadir before recovering to close 11.7% down at Rs 478 on the BSE as compared to the previous day’s close of Rs 541 per share.

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