Wockhardt rose 2.82% to Rs 1,112 at 11:52 IST on BSE, with the stock extending 2-day 7.01% rally triggered by the company reporting strong Q1 earnings.
Meanwhile, the BSE Sensex was up 57.61 points or 0.33% to 17,659.39.
On BSE, 1.75 lakh shares were traded in the counter as against average daily volume of 2.86 lakh shares over the past one quarter.
The stock hit a high of Rs 1,113.85 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,073 so far during the day. The stock had hit a 52-week low of Rs 251.25 on 6 January 2012.
The large-cap stock had outperformed the market over the past one month till 7 August 2012, jumping 22.21% compared with the Sensex's 0.46% rise. The scrip had also outperformed the market in past one quarter, surging 51.2% as against Sensex's 4.07% rise.
The company has equity capital of Rs 54.72 crore. Face value per share is Rs 5.
Shares of Wockhardt have jumped 10.03% in three trading sessions from Rs 1,010.60 on 3 August 2012 after the company during trading hours on Monday, 6 August 2012, reported strong Q1 earnings.
Wockhardt's consolidated net profit jumped 94.9% to Rs 377.97 crore on 35.4% growth in net sales to Rs 1425.82 crore in Q1 June 2012 over Q1 June 2011.
Wockhardt's consolidated EBITDA (earnings before interest, tax, depreciation, and amortization) jumped 61% to Rs 502 crore in Q1 June 2012 over Q1 June 2011. EBITDA margin surged to 35% in Q1 June 2012 from 30% in Q1 June 2011.
Wockhardt said its US and EU operations have been the major contributor in its growth and the momentum continued in Q1 June 2012 as they contributed to 71% of consolidated revenue. The company's US business recorded a spectacular growth of 78% in Q1 June 2012. The US business launched the authorized generic version of Stalevo for which it had received FTF status earlier and 2 OTC products during the quarter, Wockhardt said in a statement.
The UK business recorded a growth of 31% in Q1 June 2012 in an otherwise stagnant market, Wockhardt said. In the quarter, the UK and Irish markets launched the generic Atorvastatin which is expected to be a key product for both UK and Irish businesses, Wockhardt said in a statement.
Wockhardt said it had recently concluded the divestment of its nutrition business to Danone for Rs 1280 crore. This has significantly improved the balance sheet position for the company and its net debt to equity ratio now stands below 1, Wockhardt said in a statement.
Wockhardt's R&D continued its multidisciplinary research and patent filings across its 3 R&D centers worldwide employing 578 scientists. The company now has a total of 164 patents granted and has filed for a total of 1,585 patents globally.
Wockhardt is a high-technology intensive global pharmaceutical and biotechnology company with multi-disciplinary and innovative R&D programmes. It has 3 research centres globally and manufacturing facilities across India, USA, UK and Ireland. The company has a significant presence in USA, Europe and India, with 75% of its global revenues coming from international businesses. The company markets 475 products in the regulated markets manufactured in its India, USA, UK and Ireland facilities
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