Wockhardt slips on buzz of voluntarily recalling certain lots of drugs in US

Wockhardt fell 1.16% to Rs 999 at 11:50 IST on BSE on reports the company voluntarily recalled certain lots of drugs in the US.

Meanwhile, the S&P BSE Sensex was up 55.81 points or 0.18% at 27,453.08.

On BSE, so far 1.09 lakh shares were traded in the counter as against average daily volume of 3.19 lakh shares in the past one quarter.

The stock hit a high of Rs 1,009 and a low of Rs 981.20 so far during the day. The stock hit a 52-week high of Rs 1,087 on 12 December 2014. The stock hit a 52-week low of Rs 386 on 27 January 2014.

The stock had outperformed the market over the past one month till 30 December 2014, rising 19.81% compared with Sensex's 4.5% fall. The scrip had also outperformed the market in past one quarter, gaining 26.27% as against Sensex's 2.9% rise.

The large-cap pharma firm has equity capital of Rs 55.02 crore. Face value per share is Rs 5.

Wockhardt USA Inc, the US-based arm of the company, is reportedly recalling 11,18,400 Metoprolol Succinate extended-release tablets, a hypertension drug, for 'failed dissolution specifications'. The tablets have been manufactured by Mumbai-based Wockhardt and distributed by Wockhardt USA LLC, report said.

Wockhardt's net profit fell 97.4% to Rs 3.63 crore on 16.1% decline in total income to Rs 997.16 crore in Q2 September 2014 over Q2 September 2013.

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