Aurobindo Pharma slumps 6%
Shares of Aurobindo Pharma tumbled over 6 per cent to a low of ₹508.50 on the BSE in Thursday's intra-day trade following reports of arrest of its director Sarath Reddy.
Aurobindo makes a range of medicines from antibacterials to antidepressants.
Reddy, a business administration graduate, belongs to the promoter group of the company, which has manufacturing plants in the United States, Brazil and Portugal, according to its website.
ED arrests two businessmen- Sharath Chandra Reddy and Binoy Babu
The Enforcement Directorate has arrested two businessmen belonging to Andhra Pradesh and Telangana in Delhi Excise Policy 2021-22 money laundering case.
The businessmen have been identified as Sharath Chandra Reddy and Binoy Babu, the head of a company named Pernord Ricard.
They were arrested under Prevention of Money Laundering Act following day-long questioning with them on Wednesday.
The businessmen will be produced before a special court later in the day in the national capital.
The move comes days after the Enforcement Directorate on questioned Delhi Deputy Chief Minister Manish Sisodia's personal assistant, Devendra Sharma, followed by raids conducted at five places in Delhi and the National Capital Region (NCR) in the case.
The agency is also learnt to have picked a few suspects, including Devendra Sharma, a close aide and personal assistant of Sisodia, from their houses in Delhi and NCR.
-With Agency inputs
