 "Wockhardt surges on heavy volumes")
Wockhardt has surged 14% to Rs 959 on the National Stock Exchange (NSE) on back of heavy volumes after the media report suggests that US drug regulator has cleared the company’s Chikalthana plant.
The exchange has sought clarification from Wockhardt on September 16, 2016, with reference to news appeared in CNBC TV 18 dated September 16, 2016 stating " The US Food and Drugs Administration (USFDA) clears Chikalthana plant of Wockhardt,” BSE said in a statement.
The reply is awaited.
In July 2016, the company’s three units namely L-1 Chikalthana facility, H-14/2 Waluj facility and B-15/2 Waluj facility in Maharashtra have received Establishment Inspection Report (EIR) with observations.
On August 8, the USFDA had issued an import alert on Wockhardt’s Ankleshwar plant for alleged violation of good manufacturing practices. Since then, the stock underperformed the market by falling 17% as compared to 1% rise in the S&P BSE Sensex till Thursday.
At 02:11 pm, the stock was up 11% at Rs 929 on the NSE, against 0.28% gain in the benchmark index. The trading volumes on the counter jumped nearly seven-fold with a combined 7.92 million shares changed hands on the NSE and BSE so far.
The exchange has sought clarification from Wockhardt on September 16, 2016, with reference to news appeared in CNBC TV 18 dated September 16, 2016 stating " The US Food and Drugs Administration (USFDA) clears Chikalthana plant of Wockhardt,” BSE said in a statement.
The reply is awaited.
In July 2016, the company’s three units namely L-1 Chikalthana facility, H-14/2 Waluj facility and B-15/2 Waluj facility in Maharashtra have received Establishment Inspection Report (EIR) with observations.
On August 8, the USFDA had issued an import alert on Wockhardt’s Ankleshwar plant for alleged violation of good manufacturing practices. Since then, the stock underperformed the market by falling 17% as compared to 1% rise in the S&P BSE Sensex till Thursday.
At 02:11 pm, the stock was up 11% at Rs 929 on the NSE, against 0.28% gain in the benchmark index. The trading volumes on the counter jumped nearly seven-fold with a combined 7.92 million shares changed hands on the NSE and BSE so far.