Wockhardt jumps on feel good factor

DALAL STREET SPIKES

Wockhardt surged 8.6 per cent to Rs 385 on volumes of over 1.4 lakh and was the second best performer in the A group as "feel good" factor seems to have gripped investors in the aftermath of the budget.

The extension of 35(2AB) benefits for research and development expenditure by five years till 31 March 2012 has created positive sentiments around companies with a strong focus on inhouse research.

Moreover, excise duty exemption on life saving vaccines will benefit manufacturing companies such as Wockhardt. The company had also announced its board on March 8 will consider dividend.