Wockhardt rose 1.61% to Rs 692.90 at 10:17 IST on BSE after the company said that the UK health regulator has confirmed that the company's Chikalthana-based manufacturing facility complies with good manufacturing practices.
The announcement was made after market hours yesterday, 19 December 2016.Meanwhile, the BSE Sensex was up 22.59 points, or 0.09%, to 26,397.29.
On the BSE, so far 86,000 shares were traded in the counter, compared with average daily volumes of 2.48 lakh shares in the past one quarter. The stock had hit a high of Rs 704 and a low of Rs 692.25 so far during the day.
The stock hit a 52-week high of Rs 1,647 on 13 January 2016. The stock hit a 52-week low of Rs 659 on 23 November 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 6.76% compared with the 0.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 25.25% as against Sensex's 7.53% decline.
The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.
Wockhardt said that UK Medicines and Healthcare products Regulatory Agency (MHRA) has confirmed that general compliance with the principles and guidelines of Good Manufacturing Practice of the company's manufacturing unit at L-1, Chikalthana, Aurangabad. In view of this, the approval status of the said unit continues. Further, UK MHRA has considered the said manufacturing unit suitable for Risk based Inspection with reduced inspection frequency of 2 years from the existing inspection frequency of 1 year.
On a consolidated basis, net profit of Wockhardt declined 81.59% to Rs 17.02 crore on 13.41% decline in net sales to Rs 1064.69 crore in Q2 September 2016 over Q2 September 2015.
More From This Section
Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.
Powered by Capital Market - Live News