Wockhardt jumps 8% in 2 days

Meanwhile, the BSE Sensex was up 38.25 points or 0.2% at 19,343.57.

On BSE, 11,000 shares were traded in the counter as against average daily volume of 15,000 shares in the past two weeks.

The stock hit a high of Rs 1,735 and a low of Rs 1,653 so far during the day.

Shares of Wockhardt have surged 8.04% in two trading sessions from Rs 1,601.20 on 30 November 2012, after the company after market hours on 30 November 2012, said it has redeemed the entire 20.85 crore optionally convertible cumulative redeemable preference shares (OCCRPS-1) on 27 November 2012. The stock had risen 4.17% to settle at Rs 1,668 on Monday, 3 December 2012.

 

Wockhardt had issued 20.85 crore OCCRPS-1, which were optionally convertible on or after 25 October 2015 and if not converted were to be redeemed on 31 December 2018.

Wockhardt's consolidated net profit jumped 255.5% to Rs 453.55 crore on 28.9% growth in net sales to Rs 1347.44 crore in Q2 September 2012 over Q2 September 2011.

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.

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