Novartis India shares tank on news of delisting from BSE

Novartis India shares dipped over 4 per cent on Friday on reports that parent company, Novartis AG, may delist its shares from the Bombay Stock Exchange.

However, the drug maker says it is not aware of any such plan.

"The board of the company has not received any notice from the promoters of the company, Novartis AG, on its intention to delist the equity shares of the company from the Bombay Stock Exchange Limited," Novartis India said in a statement after trading hours on Thursday.

Novartis India shares closed 4.27 per cent down at Rs 802.75 apiece. It opened at Rs 752 and has touched a high and low of Rs 825 and 725.50 in trade on Friday.