 "Wockhardt surges on heavy volumes")
Wockhardt has surged nearly 16% to Rs 533, its sharpest intra-day gain since September 2013, on back of heavy volumes on the BSE.
The stock opened at Rs 463 and has seen over seven-fold jump in trading volumes. A combined 5.43 million shares representing about 17% free-float equity of the company changed hands on the counter till 1050 hours on the BSE and NSE.
The stock of drug maker has underperformed the market so far in 2014, gained 1.7% compared to 6% rise in benchmark S&P BSE Sensex till yesterday.
Wockhardt is facing various regulatory issues, including USFDA import alert at Waluj and Chikalthana units and is working to resolve these issues at the earliest to limit the financial impact, reports suggest.
The stock opened at Rs 463 and has seen over seven-fold jump in trading volumes. A combined 5.43 million shares representing about 17% free-float equity of the company changed hands on the counter till 1050 hours on the BSE and NSE.
The stock of drug maker has underperformed the market so far in 2014, gained 1.7% compared to 6% rise in benchmark S&P BSE Sensex till yesterday.
Wockhardt is facing various regulatory issues, including USFDA import alert at Waluj and Chikalthana units and is working to resolve these issues at the earliest to limit the financial impact, reports suggest.