Wockhardt gains as UK regulator clears Aurangabad plant

Wockhardt rose 1.27% to Rs 1,712 at 14:36 IST on BSE after the company said that UK MHRA has issued an unrestricted GMP certificate to the company's L1-Chikalthana manufacturing facility in Aurangabad.

The announcement was made after market hours yesterday, 1 December 2015.

Meanwhile, the S&P BSE Sensex was down 68.17 points or 0.26% at 26,101.24.

On BSE, so far 1.52 lakh shares were traded in the counter as against average daily volume of 2.19 lakh shares in the past one quarter.

The stock hit a high of Rs 1,748.20 and a low of Rs 1,704.05 so far during the day. The stock had hit a 52-week high of Rs 2,000 on 8 April 2015. The stock had hit a 52-week low of Rs 852 on 2 December 2014.

The stock had outperformed the market over the past one month till 1 December 2015, advancing 13.09% compared with Sensex's 1.83% fall. The scrip had also outperformed the market in past one quarter, surging 30.51% as against Sensex's 1.84% rise.

The large-cap company has equity capital of Rs 55.25 crore. Face value per share is Rs 5.

Wockhardt said it has undergone recently an inspection at its L1-Chikalthana, Aurangabad manufacturing facility by UK MHRA and has received a communication confirming the closure of the inspection and issuance of an unrestricted GMP certificate.

Separately, Wockhardt after market hours yesterday, 1 December 2015 said that India Ratings and Research Private has assigned the company's proposed Rs 100 crore commercial paper (CP)/short-term debt programme a short-term rating of IND A1+.

On consolidated basis, Wockhardt's net profit rose 2863.9% to Rs 107.59 crore on 29.9% growth in net sales to Rs 1231.65 crore in Q2 September 2015 over Q2 September 2014.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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