No plans to sell Elder Pharma

The company's scrip closed down 0.6% from Monday's close

The management of Mumbai-based Elder Pharmaceuticals has clarified that they have no plans to sell the company.

With reference to news reports saying that Elder Pharma was on the block, the company today clarified to BSE that as far as the company was aware, there was no proposal of the promoters to sell the shares in the company.

The company's shares climbed 5% and hit the upper circuit today at Rs 357.15 per share in morning trade, following the news report. However, the company's scrip closed at Rs 338.2, down by 0.57% on BSE.