 "Wockhardt dips on EIR with observations for three units")
Wockhardt has dipped 5% to Rs 988, falling 12% from its early morning high on the BSE, after the company said that three units i.e. L-1 Chikalthana, H-14/2 Waluj and B-15/2 Waluj in Maharashtra have received Establishment Inspection Report (EIR) with observations.
The stock hit an intra-day high of Rs 1,129 in early morning trade and surged 23% in past two trading sessions from Rs 921 on July 19, 2016.
Wockhardt said, upon completion of an inspection, US FDA provides inspected establishments an inspected report, called an EIR.
However, receipt of EIR does not changes our exiting status for the concerned units. Reciept of EIR does not materially change the status of import alert for the concerned manufacturing units for the US market, it added.
The company made a clarification on the news appeared on moneycontrol.com, July 21, 2016- "Chikalthana gets EIR clearance with no observations".
At 02:55 PM, the stock was down 3.5% at Rs 1,001 on the BSE. A combined 8.53 million shares changed hands on the counter on the BSE and NSE.
The stock hit an intra-day high of Rs 1,129 in early morning trade and surged 23% in past two trading sessions from Rs 921 on July 19, 2016.
Wockhardt said, upon completion of an inspection, US FDA provides inspected establishments an inspected report, called an EIR.
However, receipt of EIR does not changes our exiting status for the concerned units. Reciept of EIR does not materially change the status of import alert for the concerned manufacturing units for the US market, it added.
The company made a clarification on the news appeared on moneycontrol.com, July 21, 2016- "Chikalthana gets EIR clearance with no observations".
At 02:55 PM, the stock was down 3.5% at Rs 1,001 on the BSE. A combined 8.53 million shares changed hands on the counter on the BSE and NSE.