Wockhardt surges on talks: Bourses seek clarification

In the roaring market, Wockhardt has put its right foot forward by surging over 10 per cent. The shares of the company as at 2.47 pm are trading at Rs 906.60, up by 7.99 per cent.  According to some media reports US drug regulator has cleared the company’s Chikalthana plant, which has made the stock run on September 16.
On the other hand, bourses have asked the company for further clarification on the matter. Shares of the company in the last 5 days, have rallied over 5 per cent. However, in the last 6 months shares of the company have plunged by 4 per cent.

Recently on September 13, 2016 company has posted its Q1FY17 results. Company has reported a fall of 82.65 per cent in consolidated net profit to Rs.15.89 crore for the first quarter ended June 30, mainly on account of dip in sales and increased expenditure. The company had posted a net profit after taxes, minority interest and share of profit of associates at Rs.91.61 crore in the same period a year ago.