Elder Pharmaceuticals clarified on news titled that, 'India Inc. invested USD 5.58 billion in overseas markets in April'. The news states, that Elder Pharmaceuticals had committed USD 1.3 billion in the form of loans to its wholly owned subsidiary in the United Arab Emirates.

To the above statement, the company said, "There is no such proposal or commitment made by Elder Pharmaceuticals with respect to its wholly owned subsidiary in Dubai."

Shares of the company gained Rs 0.25, or 0.12%, to settle at Rs 206.60. The total volume of shares traded was 27,233 at the BSE (Tuesday).