Sweet pill for Wockhardt after getting GMP compliance certificate

Wockhardt gained 3.8% to Rs 608.85 at 14:57 IST on BSE after the company secured good manufacturing practice certificate for its Shendra, Aurangabad facility following recent inspection.

The announcement was made during market hours today, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 109.64 points, or 0.35% to 31,137.85. The S&P BSE Mid-Cap index was down 114.96 points, or 0.79% to 14,404.94.

On the BSE, 5.09 lakh shares were traded in the counter so far, compared with average daily volumes of 3.87 lakh shares in the past one quarter. The stock had hit a high of Rs 636.80 and a low of Rs 563.05 so far during the day. The stock hit a 52-week high of Rs 1,129 on 21 July 2016. The stock hit a 52-week low of Rs 558.25 on 25 May 2017.

The mid-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt announced that Health Products Regulatory Authority of Ireland (HPRA) has granted Certificate of good manufacturing practices (GMP) compliance to the company's Shendra, Aurangabad facility based on inspection performed from 27 February 2017 to 3 March 2017.

Wockhardt reported consolidated net loss of Rs 174.72 crore in Q4 March 2017, sharply higher than net loss of Rs 5.38 crore in Q4 March 2016. Wockhardt's consolidated total income fell 10.53% to Rs 919.82 crore in Q4 March 2017 over Q4 March 2016.

Wockhardt is a global pharmaceutical and biotech company with presence in USA, UK, Ireland, Mexico, Russia and many other countries. It has manufacturing and research facilities in India, USA & UK and a manufacturing facility in Ireland. Wockhardt has a significant presence in USA, Europe and India, with 62% of its global revenues coming from international businesses.

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