The stock touched a low of Rs 89.20 and finally ended flat at Rs 89.90. The counter saw trades of around 75,763 shares.
Updated at 1112 hrs
Wockhardt in its bid to negotiate its debt load with banks plans to sell its animal healthcare business for an anticipated Rs 150 crore.
Following which, the stock opened at Rs 90, up around 1.5% compared to its previous close. The stock touched a high of Rs 91. The stock is currently trading at Rs 89.70. Around 31,078 shares have been traded so far on the BSE.
Wockhardt chairman Habil Khorakiwala had earlier told Business Standard, that the company was looking at a strategic investor among the top 10 multinational companies having the muscle to take their products to global markets. The company was looking at the option of licensing the biotech drugs under development to a partner.
The company even plans to convert its biotechnology products division into a separate company and bring in a global pharmaceutical major as a strategic investor. The process is expected to take 12 to 18 months.