Wockhardt snaps 9-day losing streak

Wockhardt jumped 5.82% to Rs 251.90 on bargain hunting after a recent slide.

Shares of Wockhardt plunged 22.56% in the past nine trading sessions to settle at Rs 238.05 yesterday, 9 October 2019, from its close of Rs 307.40 on 24 September 2019.

Meanwhile, the S&P BSE Sensex was down 293 points or 0.77% to 37,884.76.

On the BSE, 2.02 lakh shares were traded in the counter so far compared with average daily volumes of 87,872 shares in the past two weeks. The stock hit an intraday high of Rs 260.40 and an intraday low of Rs 231.35 so far during the day.

The stock hit a 52-week high of Rs 578 on 12 November 2018. The stock hit a 52-week low of Rs 230 on 9 October 2019.

On a consolidated basis, Wockhardt reported a net loss of Rs 44.98 crore in Q1 June 2019 compared with net loss of Rs 95.06 crore in Q1 June 2018. Net sales fell 14.3% to Rs 863.11 crore in Q1 June 2019 over Q1 June 2018.

Wockhardt is a pharmaceutical and biotechnology company. The company's businesses include manufacture and marketing of pharmaceutical and bio-pharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines.

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