Wockhardt has dipped as much as 20% to Rs 732, also its 52-week low on BSE in early morning deals, on reports that UK medicines and Healthcare Products Regulatory Agency (MHRA), has imposed an alert on Wockhardt's export-oriented unit in Aurangabad.
On NSE, the stock opened at Rs 904 and hit a low of Rs 877 so far. The stock of pharmaceutical firm has tanked 8% on Friday.
According to Habil Khorakiwala, chairman, Wockhardt Ltd, there will be annual loss of Rs 100 crore due to the MHRA alert on Waluj plant, the Business Standard report suggests.
In May, US FDA had made an import alert on Waluj plant, causing annual loss of $ 100 million (Rs 600 crore), it added.
On NSE, the stock opened at Rs 904 and hit a low of Rs 877 so far. The stock of pharmaceutical firm has tanked 8% on Friday.
According to Habil Khorakiwala, chairman, Wockhardt Ltd, there will be annual loss of Rs 100 crore due to the MHRA alert on Waluj plant, the Business Standard report suggests.
In May, US FDA had made an import alert on Waluj plant, causing annual loss of $ 100 million (Rs 600 crore), it added.
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