Wockhardt has surged 10% to Rs 794, extending its previous day’s 12% rally, after the company said on Monday the drug regulator of Himachal Pradesh has revoked a suspension it imposed on the manufacture and sale of a combination drug for pain treatment.
The stock opened at Rs 728 and touched a high of Rs 797 on the BSE. A combined 4.56 million shares already changed hands so far against an average sub 3 million shares that were traded daily in the past two weeks. The benchmark S&P BSE Sensex has dipped 0.77% in past two trading sessions.
Wockhardt said last week the drug regulator suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg, Tramadol Hydrochloride IP 50mg and Acetamenophen IP 325mg.
In a statement issued on Monday, Wockhardt said the state regulator has lifted the ban and it would continue to manufacture and sell the product.
The company said the products had contributed less than 3% to the consolidated sales of the company in the financial year that ended on March 31.
The stock opened at Rs 728 and touched a high of Rs 797 on the BSE. A combined 4.56 million shares already changed hands so far against an average sub 3 million shares that were traded daily in the past two weeks. The benchmark S&P BSE Sensex has dipped 0.77% in past two trading sessions.
Wockhardt said last week the drug regulator suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg, Tramadol Hydrochloride IP 50mg and Acetamenophen IP 325mg.
In a statement issued on Monday, Wockhardt said the state regulator has lifted the ban and it would continue to manufacture and sell the product.
The company said the products had contributed less than 3% to the consolidated sales of the company in the financial year that ended on March 31.
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