Wockhardt rose 3.84% to Rs 716.65 at 9:49 IST on BSE after the company said that the UK health regulator has confirmed that the company's Daman-based manufacturing facility complies with good manufacturing practices.
The announcement was made after market hours yesterday, 13 December 2016.Meanwhile, the BSE Sensex was down 54.22 points, or 0.20%, to 26,643.60.
On the BSE, so far 1.18 lakh shares were traded in the counter, compared with average daily volumes of 2.85 lakh shares in the past one quarter. The stock had hit a high of Rs 719 and a low of Rs 705.10 so far during the day.
The stock hit a 52-week high of Rs 1,654 on 18 December 2015. 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 13 December 2016, falling 11.91% compared with the 0.45% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.05% as against Sensex's 5.90% decline.
The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.
Wockhardt announced that UK MHRA (The Medicines and Healthcare products Regulatory Agency) has confirmed that the company's manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices. In view of this, the approval status of the unit continues.
Wockhardt's consolidated net profit fell 81.59% to Rs 17.02 crore on 10.05% decline in total income to Rs 1084.59 crore in Q2 September 2016 over Q2 September 2015.
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Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.
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