Wockhardt tanks 20% on heavy volumes

A combined 1.16 million shares have changed hands and there are pending sell orders for 372,359 shares til 1503 hours.

Wockhardt is locked in lower circuit of 20% at Rs 1,315 on BSE with no buyers on the counter.

A combined 1.16 million shares have changed hands on the counter against an average less than 300,000 shares that were traded daily in past two weeks on NSE and BSE.

There are pending sell orders for 372,359 sharestill 1503 hours. The stock opened at Rs 1,645 and hit a high of Rs 1,648 so far.

According to ET Now television channel reports, the company’s new approvals from the United States Food and Drug Administration (USFDA) may be blocked.