Wockhardt was locked at 5% lower circuit at Rs 444.65 at 09:18 IST on BSE, also its 52-week low, with the stock extending its recent steep slide.
Meanwhile, the S&P BSE Sensex was up 129.07 points or 0.67% at 19,474.77
On BSE, 10,502 shares were traded in the counter with pending sell orders of 71,800 shares at lower circuit. The scrip has an average daily volume of 2.02 lakh shares in the past one quarter.
The stock hit a 52-week low of Rs 444.65 in intraday trade today, 1 August 2013. The stock hit a high of Rs 444.65 so far during the day. The stock had hit a record high of Rs 2,166.05 on 12 March 2013.
The stock had underperformed the market over the past one month till 31 July 2013, falling 53.17% compared with the Sensex's 0.26% fall. The scrip had also underperformed the market in past one quarter, sliding 75.40% as against Sensex's 0.81% decline.
The mid-cap company has equity capital of Rs 54.79 crore. Face value per share is Rs 5.
Wockhardt's shares have been on a declining spree recently, sliding 19.76% in five trading days to Rs 808.30 on 22 July 2013 from a recent high of Rs 1,007.35 on 15 July 2013. Most of the fall came after Wockhardt on 20 July 2013 said it has received a warning letter from USFDA, listing the observations made by it during its earlier inspection of the company's Waluj facility near Aurangabad. The scrip gained 2.2% to Rs 826.10 on 23 July 2013 on bargain hunting. Thereafter, the shares once again resumed downtrend, falling 46.17% in seven trading days from a recent high of Rs 826.10 on 23 July 2013.
Wockhardt had on 24 May 2013 said that the company received an 'import alert' from the United States Food and Drug Administration (USFDA) on one of its manufacturing unit located at Waluj. The company at that time said that the impact of the import alert on the revenues is estimated to be in the range of $100 million on an annualised basis.
Wockhardt said that the company continues to cooperate with the United States Food and Drug Administration (USFDA) to resolve the issues at the earliest. If any additional measures are necessary, the company would take them to squarely address all concerns, Wockhardt said.
Wockhardt reported consolidated net profit of Rs 334.76 crore in Q4 March 2013, as against net loss of Rs 191.64 crore in Q4 March 2012. Net sales rose 26.4% to Rs 1485.50 crore in Q4 March 2013 over Q4 March 2012.
Wockhardt is a high-technology intensive global pharmaceutical and biotechnology company with multi-disciplinary and innovative R&D programmes. It has three research centres globally and manufacturing facilities across India, USA, UK and Ireland. The company has a significant presence in USA, Europe and India.
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